sec.63Determination of application

### sec.63 Determination of application The commission may, after considering an application for a licence— grant the licence (conditionally or unconditionally); or refuse the application. In determining the application, the commission may take into consideration— the suitability of the applicant; and the nature and extent of the applicant’s experience in the business of general insurance; and the applicant’s paid-up share capital and reserves; and any reinsurance arrangements to which the applicant is a party; and the likely effect on the statutory scheme of licensing the applicant; and any other factors the commission considers relevant. A licence may be granted only if the commission is satisfied that— the applicant has enough financial resources to carry on business as a licensed insurer; and the applicant has adequately experienced staff available in Queensland to administer personal injury claims under the CTP insurance scheme; and the applicant is in all other respects an appropriate person to hold a licence; and licensing the applicant would not adversely affect the efficiency and effectiveness of the statutory insurance scheme. A licence must not be granted until the insurer has executed the industry deed. Notice of the grant of a licence under this part, specifying the date on which the licence takes effect, must be given in the gazette. (sec.63-ssec.1) The commission may, after considering an application for a licence— grant the licence (conditionally or unconditionally); or refuse the application. (sec.63-ssec.2) In determining the application, the commission may take into consideration— the suitability of the applicant; and the nature and extent of the applicant’s experience in the business of general insurance; and the applicant’s paid-up share capital and reserves; and any reinsurance arrangements to which the applicant is a party; and the likely effect on the statutory scheme of licensing the applicant; and any other factors the commission considers relevant. (sec.63-ssec.3) A licence may be granted only if the commission is satisfied that— the applicant has enough financial resources to carry on business as a licensed insurer; and the applicant has adequately experienced staff available in Queensland to administer personal injury claims under the CTP insurance scheme; and the applicant is in all other respects an appropriate person to hold a licence; and licensing the applicant would not adversely affect the efficiency and effectiveness of the statutory insurance scheme. (sec.63-ssec.4) A licence must not be granted until the insurer has executed the industry deed. (sec.63-ssec.5) Notice of the grant of a licence under this part, specifying the date on which the licence takes effect, must be given in the gazette. - (a) grant the licence (conditionally or unconditionally); or - (b) refuse the application. - (a) the suitability of the applicant; and - (b) the nature and extent of the applicant’s experience in the business of general insurance; and - (c) the applicant’s paid-up share capital and reserves; and - (d) any reinsurance arrangements to which the applicant is a party; and - (e) the likely effect on the statutory scheme of licensing the applicant; and - (f) any other factors the commission considers relevant. - (a) the applicant has enough financial resources to carry on business as a licensed insurer; and - (b) the applicant has adequately experienced staff available in Queensland to administer personal injury claims under the CTP insurance scheme; and - (c) the applicant is in all other respects an appropriate person to hold a licence; and - (d) licensing the applicant would not adversely affect the efficiency and effectiveness of the statutory insurance scheme.