106Change in licensee's corporate positions

106 Change in licensee's corporate positions (1) A licensee that is a body corporate must give the Director written notice of any change in the following persons: (a) a person who is a director of the licensee; (b) a person who exercises, or is in a position to exercise, control or have substantial influence over the licensee in the conduct of its affairs; (c) a person who manages, or intends to manage, the licensee's business under the licence and who is not the licensee's nominee; (d) in the case of a club or association – a person who holds an executive position in the club or association; (e) in the case of a proprietary company – a person who is a shareholder owning or controlling more than 10% of the issued voting stock of the company. (2) The written notice must be given within 14 days of the change. (3) A child who is a shareholder in a company is not for that reason to be regarded as a person occupying a position of authority. (4) The Commission may investigate any change notified under subsection (1) and re-examine the question of the licensee's fitness to hold the licence.