145DIssue of insurer licence

145D Issue of insurer licence (1) If an insurer applies for an insurer licence, the regulator must, within a reasonable period— (a) issue the licence; or (b) refuse to issue the licence. Note 1 A decision to refuse to issue a licence is a reviewable decision (see ch 12 and Workers Compensation Regulation 2002, sch 3, pt 3.1). Note 2 A licence may be issued with a condition (see s 145E). (2) The regulator may issue the licence to the applicant, only if the regulator is satisfied that the applicant meets the criteria for issuing an insurer licence. Note A regulation may prescribe the criteria for issuing an insurer licence (see s 145J (b)).