Motor Accident Injuries Act 2017

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

grant a licence to the applicant, or

refuse the application.

The Authority may, in determining an application for a licence, 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 motor accidents scheme under this Act generally, and

such other matters as the Authority thinks fit.

Despite subsection (1), the Authority must refuse an application for a licence from a corporation that does not comply with such requirements as are prescribed by the regulations for the purposes of this Division.

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

When the Authority proposes to grant a licence to a corporation, it must give 14 days notice of the proposal to all licensed insurers specifying the name of the corporation.