Registration certificate—conditions
129 Registration certificate—conditions
The chief executive may decide to issue a registration certificate on the conditions the chief executive considers necessary or desirable—
for the proper performance of the activities authorised by the certificate; or
for another purpose consistent with the achievement of the objects of this Act or the Administration Act.
Example—If the chief executive decides to issue a registration certificate to a person who is or has been an insolvent under administration, the chief executive may issue the certificate subject to a condition that the person not receive, bank or otherwise be responsible for dealing with trust account moneys.
A condition may limit or prohibit the performance of an activity authorised under this Act or the Administration Act.
If the chief executive decides to issue the certificate on conditions, the chief executive must give the applicant an information notice about the decision within 14 days after making the decision.
This Act’s bill:Explanatory memorandumSecond reading speech
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