18NLRenewal of servicing licence

#### 18NL Renewal of servicing licence (1) The Secretary must grant an application for the renewal of a servicing licence unless: (a) the Secretary would have had to refuse the application under section 18NC if it had been an application made under section 18NA; or (b) the Secretary decides to refuse the application under subsection 18NK(4). (2) The Secretary must give the applicant written notice of the decision on the application within 28 days after the application is made (the consideration period) and, if the renewal is granted, specify the period of the renewal in the notice. (3) The notice must specify the period for which the licence is renewed. (4) If the Secretary requests an applicant under subsection 18NK(3) to provide information or documents, the time taken by the applicant to provide the information or documents is not to be included in the consideration period. (5) If the Secretary fails to give the applicant written notice of the decision under subsection (2) within the consideration period the Secretary is, at the end of the period, taken to have refused to grant the application.