Applications
21 Applications
The following applications may be made to the Commissioner:
an application for the grant, renewal or transfer of a licence;
an application for the Commissioner's approval or ratification of a transaction to which Division
3 applies (other than the transfer of a licence);
an application for the Commissioner's approval of a transaction to which Division
3 would apply if the transaction were entered into;
an application for the Commissioner's approval of a person to become a designated person in relation to a licensee.
An application—
must be in the form required by the Commissioner; and
must be supported by the information required by the Commissioner verified, if the Commissioner so requires, by statutory declaration;
and
must be made as follows:
in the case of an application for the Commissioner's approval of a transfer of a licence—the application must be made jointly by the proposed transferor and transferee;
in the case of an application for the Commissioner's approval or ratification of a transaction to which
Division
3 applies or would apply if the transaction were entered into (other than the transfer of a licence)—the application must be made by the licensee or one or more of the parties to the transaction;
in the case of an application for the Commissioner's approval of a person to become a designated person in relation to a licensee—the application must be made by the licensee.
If a change of circumstances occurs after an application is made but before it is determined, the applicant must immediately give the
Commissioner full details of the change. Maximum penalty: Maximum penalty: $10 000.
An application may be withdrawn by the applicant, or any of the applicants, before the application is determined.
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