98Replacement licence document

98 Replacement licence document

(1)  A licence holder must notify the regulator as soon as practicable if the licence document is lost, stolen or destroyed.

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)  If a licence document is lost, stolen or destroyed, the licence holder may apply to the regulator for a replacement document.

| Note | | A licence holder is required to keep the licence document available for inspection (see regulation 94 ). |

(3)  An application for a replacement licence document must be made in the manner and form required by the regulator.

(4)  The application must –

(a) include a declaration describing the circumstances in which the original document was lost, stolen or destroyed; and

| Note | | See section 268 of the Act for offences relating to the giving of false or misleading information under the Act or these regulations. |

(b) be accompanied by the relevant fee.

(5)  The regulator must issue a replacement licence document if satisfied that the original document was lost, stolen or destroyed.

(6)  If the regulator refuses to issue a replacement licence document, it must give the licence holder written notice of this decision, including the reasons for the decision, within 14 days after making the decision.

| Note | | A decision to refuse to replace a licence is a reviewable decision (see regulation 676 ). |