Commissioner to consider application
200 Commissioner to consider application
The commissioner must consider an application for a licence under this part.
In considering the application, the commissioner—
must conduct investigations the commissioner considers are necessary and reasonable to help the commissioner decide the application; and
may require the applicant, or an associate of the applicant, to give the commissioner further information or a document for the application.
A requirement under subsection (2)(b)—
must be made by written notice given to the applicant or associate; and
may only relate to information or a document that is necessary and reasonable to help the commissioner decide the application.
The notice mentioned in subsection (3)(a) must state the period within which the requirement is to be complied with.
Also, in considering the application, the commissioner must have regard to each of the following matters—
if the applicant is an individual—the financial stability, general reputation and character of the applicant;
if the applicant is a body corporate—
the financial stability and business reputation of the body corporate; and
the financial stability, general reputation and character of the secretary and each executive officer of the body corporate;
the suitability of the applicant to be the holder of a licence of the kind to which the application relates;
if a person is stated in an affidavit under section 210 as being a person who satisfies a description mentioned in subsection (4)(a) or (b) of that section—the suitability of the person to be an associate of the applicant;
if the commissioner considers it appropriate—the suitability of any other associate of the applicant to be an associate of the applicant;
whether the applicant has, or is able to obtain, the services of persons with appropriate business ability, knowledge or experience to enable the applicant to conduct operations successfully under a licence of the kind to which the application relates.
If the applicant is an individual, the commissioner may, with the applicant’s agreement, cause the applicant’s fingerprints to be taken.
Despite subsection (1), if the applicant is an individual, the commissioner is required to consider the application only if the applicant, if asked, agrees to having the applicant’s fingerprints taken.
In considering an application, the commissioner also must have regard to any supporting material for the application.
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