67Surrender of retention licence

### 67 Surrender of retention licence > > (1)  A licensee may apply to the Director for approval to surrender a licence or part of a licence. > > > (2)  An application for approval to surrender a licence or part of a licence is to be – > > > > > > (a) in an approved form; and > > > > > > > (b) accompanied by the licence; and > > > > > > > (c) accompanied by the prescribed fee; and > > > > > > > (d) lodged with the Registrar. > > > (3)  The Director may – > > > > > > (a) approve the application, with or without any conditions; or > > > > > > > (b) refuse to approve the application. > > > (4)  The Director, by notice in writing, is to notify the applicant of – > > > > > > (a) the approval of the application; or > > > > > > > (b) the refusal to approve the application and the reason for the refusal. > > > (5)  [*\[Section 67 Subsection (5) inserted by No. 24 of 2013, s. 73, Applied:28 Jun 2013\]*](/view/html/inforce/2013-06-28/act-2013-024#GS73@EN) If the Director approves an application on conditions, the Director, by notice in writing, is to notify the applicant when the Director is satisfied that all the conditions have been fulfilled. > > > (6)  [*\[Section 67 Subsection (6) inserted by No. 24 of 2013, s. 73, Applied:28 Jun 2013\]*](/view/html/inforce/2013-06-28/act-2013-024#GS73@EN) If the Director approves an application, the licence, or the part of the licence, to which the application relates – > > > > > > (a) is, if the application is approved without conditions, surrendered on the date on which the Director gives to the applicant notice under [subsection (4)](#GS67@Gs4@EN) of the approval; or > > > > > > > (b) is, if the application is approved with conditions, surrendered on the date on which the Director gives to the applicant notice under [subsection (5)](#GS67@Gs5@EN) that the Director is satisfied that all the conditions have been fulfilled.