9Meaning of suitable person

9 Meaning of suitable person (1) For this Act, in deciding whether an applicant for a licence is a suitable person to hold the licence, the registrar must consider the (a) the applicant’s character;

Preliminary Division 2.1 (b) the applicant’s history of compliance, or ability to comply, with this Act and relevant laws including whether the applicant has been— (i) the subject of regulatory action (however described) under this Act or a relevant law; or (ii) convicted of an offence against this Act or a relevant law or another law that affects the applicant’s suitability to undertake residential development activities; (c) if the applicant is able to demonstrate an ability to comply with this Act and relevant laws; (d) the applicant’s operational and financial capacity to undertake residential development activities including the applicant’s— (i) past performance in undertaking residential development activities or related activities; and (ii) credit history and financial viability; (e) the applicant’s compliance with any competency requirement; (f) whether the applicant has previously held a licence that has been cancelled or suspended, or for which conditions have been imposed under section 19; (g) if the applicant is an individual, whether the applicant has been— (i) an insolvent under administration under the Corporations Act, section 9; or (ii) an executive officer of a corporation within 2 years before the corporation was placed into administration, receivership or liquidation; or (iii) disqualified from managing a corporation under the Corporations Act; (h) any matter prescribed by regulation.

(2) If the applicant is a corporation and the registrar considers it relevant, the registrar may also consider the matters mentioned in subsection (1) for— (a) an associated entity or key person for the corporation; and (b) a former associated entity or key person for the corporation. (3) The registrar may consider any other matter the registrar considers relevant.