28ACommercial licences—Minister may only grant licence if financial security requirement complied with

28A Commercial licences—Minister may only grant licence if financial security requirement complied with

(1) This section applies if: (a) an eligible person has applied for a commercial licence; and (b) the commercial licence has not been granted, and the application has not been refused; and (c) subject to section 103 of this instrument, section 117 of the Act would, if the commercial licence were granted, require the eligible person to have provided the Commonwealth with an amount of financial security at the time the commercial licence comes into force. (2) For the purposes of paragraph 42(1)(j) of the Act, the Minister may only grant the commercial licence if the eligible person has provided the Commonwealth with that amount of financial security.