Licensees to notify Commissioner of certain changes
36 Licensees to notify Commissioner of certain changes
A licensee shall, within 14 days after commencing or ceasing to carry on business as a settlement agent, give to the Commissioner notice in writing of that fact.
A licensee shall give to the Commissioner notice in writing —
where the licensee is a body corporate, of any change in the directors or shareholding of the body corporate;
where the licensee is a firm, of any change in the persons by whom or by which it is constituted;
where the licensee is a firm and any of the persons by whom or by which it is constituted is a body corporate, of any change in the directors or shareholding of any such body corporate;
where the licensee is a firm or body corporate, of any change in the person in bona fide control of the business operated under the licence held by the licensee,
within 14 days of the change.
In subsection (2)(a) and (b) body corporate does not include —
a corporation, shares in which are quoted on a prescribed financial market in Australia; or
a bank; or
[(c) deleted]
a trustee company.
In this section —
prescribed financial market has the meaning given by section 9 of the Corporations Act 2001 of the Commonwealth.
[Section 36 amended: No. 26 of 1999 s. 102(4); No. 21 of 2003 s. 23; No. 58 of 2010 s. 176; No. 23 of 2014 s. 103.]
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