Financial requirements: painting contractors
33 Financial requirements: painting contractors
For the purposes of section 18(1)(b) the following financial requirements are prescribed for registration as a painting contractor (individual) —
the applicant must not be an insolvent;
if the applicant has previously been an insolvent, the applicant must have the capacity to meet debts as and when they fall due.
For the purposes of section 18(1)(b) the following financial requirements are prescribed for registration as a painting contractor (partnership) —
each partner of the partnership must not be an insolvent;
if a partner of the partnership has previously been an insolvent, the partnership must have the capacity to meet debts as and when they fall due.
For the purposes of section 18(1)(b) the following financial requirements are prescribed for registration as a painting contractor (company) —
the applicant and each officer of the applicant must not be an insolvent;
if the applicant or an officer has previously been an insolvent, the applicant must have the capacity to meet debts as and when they fall due.
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