Debt Collectors Licensing Regulations 1964

A licensee may, at any time during the currency of his licence, apply to the Commissioner for the transfer of the licence to a person qualified to hold the licence and on receipt of the application the Commissioner shall as soon as practicable notify the Commissioner of Police of the fact.

The application for the transfer of the licence signed by the licensee and by the proposed transferee shall be lodged in the approved form with the Commissioner and shall be accompanied by —

the licence; and

testimonials as to the character of the proposed licensee signed by not less than 3 reputable persons; and

the fee prescribed under regulation 4; and

a fidelity bond in the prescribed form or approved security in the appropriate sum as required by section 20 of the Act in respect of the proposed transferee as if the proposed transferee were an applicant for a licence.

Instead of lodging a fidelity bond or approved security there may be lodged in the case where a fidelity bond already lodged by the licensee is a fidelity bond in the prescribed form or the licensee has lodged an approved security, an undertaking in writing by the surety under the bond or security to hold itself or himself, as the case may be, liable thereunder in respect of the proposed transferee as if the fidelity bond or approved security were lodged in respect of the proposed transferee.

If the Commissioner is satisfied that the proposed transferee is —

of good fame and character; and

a fit and proper person to be a licensee; and

of the age of 21 years or more,

Where the proposed transferee is a corporation any reference in subregulation (4) to the proposed transferee shall be read and construed as a reference to the directors of the corporation.

Upon the transfer of a licence the Commissioner shall —

endorse the licence accordingly; and

enter the particulars thereof in the register kept by him pursuant to section 12 of the Act; and

notify the Commissioner of Police of the transfer of the licence.

Where the application for a transfer of a licence is not granted or the application is withdrawn the amount of the prescribed fee shall be refunded to the applicant.