505Licence document to be available

505 Licence document to be available

(1)  A licence holder must keep the licence document available for inspection under the Act.

Penalty:  In the case of –

(a) an individual, a fine not exceeding $1 250; or

(b) a body corporate, a fine not exceeding $6 000.

(2)  Subregulation (1) does not apply if the licence document is not in the licence holder's possession because –

(a) it has been returned to the regulator under regulation 512 ; or

(b) the licence holder has applied for, but has not received, a replacement licence document under regulation 513 .