sec.11FLicensee must give commission information about significant change to business

### sec.11F Licensee must give commission information about significant change to business This section applies if there is a significant change to the business carried out under a licence. The licensee for the licence must, as soon as practicable, give the commission— for a category SC1 or SC2 licensee—a declaration, in the approved form, about the licensee’s compliance with the minimum financial requirements; or for another category of licensee—an MFR report. In this section— significant change , to a business, means a change to the structure of the business that may impact its financial position, including the following— a change of ownership of the business; if the licensee is a corporation—a change to an executive officer of the corporation; if the licensee carries on business in a partnership—a change to the partners in the partnership, or another substantial change to the partnership agreement; if the licensee is a trustee of a trust—a change to the trustees of the trust, or a substantial change to the trust instrument. s 11F ins 2019 SL No. 30 s 15 (sec.11F-ssec.1) This section applies if there is a significant change to the business carried out under a licence. (sec.11F-ssec.2) The licensee for the licence must, as soon as practicable, give the commission— for a category SC1 or SC2 licensee—a declaration, in the approved form, about the licensee’s compliance with the minimum financial requirements; or for another category of licensee—an MFR report. (sec.11F-ssec.3) In this section— significant change , to a business, means a change to the structure of the business that may impact its financial position, including the following— a change of ownership of the business; if the licensee is a corporation—a change to an executive officer of the corporation; if the licensee carries on business in a partnership—a change to the partners in the partnership, or another substantial change to the partnership agreement; if the licensee is a trustee of a trust—a change to the trustees of the trust, or a substantial change to the trust instrument. - (a) for a category SC1 or SC2 licensee—a declaration, in the approved form, about the licensee’s compliance with the minimum financial requirements; or - (b) for another category of licensee—an MFR report. - (a) a change of ownership of the business; - (b) if the licensee is a corporation—a change to an executive officer of the corporation; - (c) if the licensee carries on business in a partnership—a change to the partners in the partnership, or another substantial change to the partnership agreement; - (d) if the licensee is a trustee of a trust—a change to the trustees of the trust, or a substantial change to the trust instrument.