sec.27BNotice of intention to revoke because dealer’s associate is not fit and proper

### sec.27B Notice of intention to revoke because dealer’s associate is not fit and proper This section applies if an authorised officer is satisfied that an associate of a licensed dealer is not a fit and proper person to be an associate of a licensed dealer. See also sections 10B and 10C . Before revoking the licensed dealer’s licence, the authorised officer must give the dealer a notice stating that the authorised officer— is satisfied that a named associate of the dealer is not a fit and proper person to be an associate of a licensed dealer; and intends to give the dealer a revocation notice under section 29 unless the dealer discontinues the dealer’s association with the associate within a stated reasonable time. In deciding what is a reasonable time, regard is to be had to the following— the extent of the associate’s relevant financial interest in the dealer’s business; any relevant power the associate may exercise in the dealer’s business; any relevant position the associate holds in the dealer’s business; the public interest. s 27B ins 2003 No. 37 s 20 amd 2024 No. 45 s 63 (sec.27B-ssec.1) This section applies if an authorised officer is satisfied that an associate of a licensed dealer is not a fit and proper person to be an associate of a licensed dealer. See also sections 10B and 10C . (sec.27B-ssec.2) Before revoking the licensed dealer’s licence, the authorised officer must give the dealer a notice stating that the authorised officer— is satisfied that a named associate of the dealer is not a fit and proper person to be an associate of a licensed dealer; and intends to give the dealer a revocation notice under section 29 unless the dealer discontinues the dealer’s association with the associate within a stated reasonable time. (sec.27B-ssec.3) In deciding what is a reasonable time, regard is to be had to the following— the extent of the associate’s relevant financial interest in the dealer’s business; any relevant power the associate may exercise in the dealer’s business; any relevant position the associate holds in the dealer’s business; the public interest. - (a) is satisfied that a named associate of the dealer is not a fit and proper person to be an associate of a licensed dealer; and - (b) intends to give the dealer a revocation notice under section 29 unless the dealer discontinues the dealer’s association with the associate within a stated reasonable time. - (a) the extent of the associate’s relevant financial interest in the dealer’s business; - (b) any relevant power the associate may exercise in the dealer’s business; - (c) any relevant position the associate holds in the dealer’s business; - (d) the public interest.