sec.119Investigation of suitability of key person licensees

sec.119 Investigation of suitability of key person licensees

The chief executive may investigate a key person licensee to help the chief executive decide whether the licensee is a suitable person to hold a key person licence. Criteria for deciding a person’s suitability to hold a key person licence are dealt with in section 113 . However, the chief executive may investigate a key person licensee only if— the chief executive reasonably suspects the licensee is not a suitable person to hold a key person licence; or the investigation is made under an audit program for key person licensees approved by the chief executive. Also, a key person licensee may be investigated under an audit program only if there has not been an investigation of the licensee under the program within the preceding 2 years. s 119 amd 2013 No. 62 s 65 (sec.119-ssec.1) The chief executive may investigate a key person licensee to help the chief executive decide whether the licensee is a suitable person to hold a key person licence. Criteria for deciding a person’s suitability to hold a key person licence are dealt with in section 113 . (sec.119-ssec.2) However, the chief executive may investigate a key person licensee only if— the chief executive reasonably suspects the licensee is not a suitable person to hold a key person licence; or the investigation is made under an audit program for key person licensees approved by the chief executive. (sec.119-ssec.3) Also, a key person licensee may be investigated under an audit program only if there has not been an investigation of the licensee under the program within the preceding 2 years.

• (a) the chief executive reasonably suspects the licensee is not a suitable person to hold a key person licence; or
• (b) the investigation is made under an audit program for key person licensees approved by the chief executive.