50
In forceSection 35 amended
Part 4Finance Brokers Control Act 1975 amended
Division 1Finance Brokers Control Act 1975 amended
50 Section 35 amended
After section 35(5) insert:
(6)
Where —
(a)
a licence has expired under section 30(1A); and
(b)
the Commissioner is reasonably satisfied, having regard to the period of time since the licence has expired, that the former licensee is unlikely to have, or to incur, an undischarged liability in respect of moneys which came to his hands before the referral day,
the Commissioner may release a bond or guarantee lodged by the former licensee under subsection (1) and may return to the former licensee any document associated with the bond or guarantee.
This Act’s bill:Explanatory memorandumSecond reading speech
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