Duration of licences
84 Duration of licences
Subject to this Part, a licence remains in force until—
the licence is surrendered; or
the holder of the licence dies or, in the case of a body corporate, is dissolved.
The holder of a licence under this Part must, not later than the prescribed day in each year—
pay to the Minister the annual licence fee fixed by the Minister; and
lodge with the Minister an annual return containing the prescribed information.
If the holder of a licence fails to pay the annual licence fee or lodge the annual return in accordance with subsection (2), the Minister may, by notice in writing, require the holder to make good the default.
If the holder of a licence fails to comply with a notice under subsection (3) within 14 days after service of the notice, the licence is, by force of this subsection, suspended until the holder complies with the notice.
If a licence has been suspended by virtue of subsection (4) for a continuous period of 6 months, the licence is, by force of this subsection, cancelled.
This provision refers to the regulations (prescribed day
, prescribed information
). Made under this Act:
This Act’s bill:Second reading speech
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