Other circumstances in which regulator must not issue the licence

In force

(1)

The regulator must not issue the licence if the regulator is satisfied that issuing the licence would be inconsistent with a policy principle in force under section 21.

(2)

The regulator must not issue the licence unless the regulator is satisfied that the applicant is a suitable person to hold the licence.

(3)

Subsection (2) does not apply to an inadvertent dealings application.

This Act’s bill:Explanatory statement Second reading speech

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57 Other circumstances in which regulator must not issue the licence