501Refusal to grant licence – process

501 Refusal to grant licence – process

(1)  If the regulator proposes to refuse to grant a licence, the regulator must give the applicant a written notice –

(a) informing the applicant of the reasons for the proposed refusal; and

(b) advising the applicant that the applicant may, by a specified date (being not less than 28 days after giving the notice), make a submission to the regulator in relation to the proposed refusal.

(2)  After the date specified in a notice under subregulation (1) , the regulator must –

(a) if the applicant has made a submission in relation to the proposed refusal to grant the licence, consider that submission; and

(b) whether or not the applicant has made a submission, decide whether to grant or refuse to grant the licence; and

(c) within 14 days after making the decision, give the applicant written notice of the decision, including the reasons for the decision.

| Note | | A refusal to grant a licence is a reviewable decision (see regulation 676 ). |