sec.62Application for licence

### sec.62 Application for licence A body corporate carrying on the business of general insurance in Queensland may apply to the commission for a licence under this part. The application— must be made in writing; and must be accompanied by the information and materials that may be required by regulation. The applicant must provide the commission with the further information or materials that the commission may require to decide the application. The commission may, for example, require the applicant to provide— particulars of shareholders, directors, managers and staff; and copies of returns and accounts that the applicant is required by law to prepare; and particulars of reinsurance arrangements to which the applicant is a party. If an application is made for a licence and, before a licence is granted, there is a change in the matters of which particulars are required in the application, or in the matters contained in a document the applicant is required to give, the body corporate must, within 14 days after the change, give the commission written notice signed by a director giving particulars of the change. A body corporate must not— make an application for a licence; or give to the commission a notice under subsection (5) ; that is false or misleading in a material particular. Maximum penalty for subsection (6) —150 penalty units. s 62 amd 2000 No. 17 s 37 ; 2000 No. 52 s 48 sch (sec.62-ssec.1) A body corporate carrying on the business of general insurance in Queensland may apply to the commission for a licence under this part. (sec.62-ssec.2) The application— must be made in writing; and must be accompanied by the information and materials that may be required by regulation. (sec.62-ssec.3) The applicant must provide the commission with the further information or materials that the commission may require to decide the application. (sec.62-ssec.4) The commission may, for example, require the applicant to provide— particulars of shareholders, directors, managers and staff; and copies of returns and accounts that the applicant is required by law to prepare; and particulars of reinsurance arrangements to which the applicant is a party. (sec.62-ssec.5) If an application is made for a licence and, before a licence is granted, there is a change in the matters of which particulars are required in the application, or in the matters contained in a document the applicant is required to give, the body corporate must, within 14 days after the change, give the commission written notice signed by a director giving particulars of the change. (sec.62-ssec.6) A body corporate must not— make an application for a licence; or give to the commission a notice under subsection (5) ; that is false or misleading in a material particular. Maximum penalty for subsection (6) —150 penalty units. - (a) must be made in writing; and - (b) must be accompanied by the information and materials that may be required by regulation. - (a) particulars of shareholders, directors, managers and staff; and - (b) copies of returns and accounts that the applicant is required by law to prepare; and - (c) particulars of reinsurance arrangements to which the applicant is a party. - (a) make an application for a licence; or - (b) give to the commission a notice under subsection (5) ;