Home Building Act 1989

The Authority is to consider each application for a licence under this Part and may—

grant a licence to the applicant, or

refuse the application.

The Authority may, in determining an application for a licence as a licensed insurer, take into consideration—

the suitability of the applicant, and

the paid-up share capital and reserves of the applicant, and

the constitution of the applicant (if any), and

the re-insurance arrangements of the applicant, and

the efficiency of the insurance scheme (including any alternative arrangements under Part 6B) under this Act generally, and

any applicable Insurance Guidelines, and

any other matters that the Authority thinks fit.

The Authority may, in determining an application for a licence as a licensed provider, take into consideration—

the suitability of the applicant, and

the efficiency of the insurance scheme (including any alternative arrangements under Part 6B) under this Act generally, and

any applicable Insurance Guidelines, and

any other matters that the Authority thinks fit.

The Authority may request an applicant for a licence to provide further information before determining the application.

Despite subsection (1), the Authority must refuse an application for a licence from a corporation or other person who does not comply with any requirements that are prescribed by the regulations for the purposes of this section or set out in Insurance Guidelines made under this section.

The Insurance Guidelines may specify eligibility criteria for a licence under this Part.

A licence must not be granted under this Part unless the applicant has paid (or has made arrangements acceptable to the Authority for the payment of) the fee determined by the Authority for the grant of the licence.

When the Authority proposes to grant a licence, it must give 14 days notice of the proposal to all licence holders specifying the name of the proposed licence holder.