When assessing whether a foreign corporation is a 'fit and proper person' to hold a regulatory licence, the decision-maker must identify and assess the persons who exercise effective control of the corporation; it is not sufficient to assess only the local agent appointed under the Corporations Act 2001 (Cth). Legislative requirements for use of approved application forms are not mere technicalities and a decision-maker may properly refuse an application that is not in the approved form and does not contain all required information.
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