(1) A licence holder must give written notice to the regulator as soon as practicable if the licence document is lost, stolen or destroyed.
(a) In the case of an individual--$1 250.
(b) In the case of a body corporate--$6 000.
Note: Section 12F of the Act provides that strict liability applies to each physical element of each offence under the Act, unless otherwise stated. The reference in section 12F of the Act includes these Regulations.
(2) If a licence document is lost, stolen or destroyed, the licence holder may apply to the regulator for a replacement document.
Note: A licence holder is required to keep the licence document available for inspection (see regulation 94).
(3) An application for a replacement licence document must be made in the manner and form required by the regulator.
(a) include a declaration describing the circumstances in which the original document was lost, stolen or destroyed; and
(b) be accompanied by the relevant fee.
Note: See section 268 of the Act for offences relating to the giving of false or misleading information under the Act or these Regulations.
(5) The regulator must issue a replacement licence document if satisfied that the original document was lost, stolen or destroyed.
(6) If the regulator refuses to issue a replacement licence document, it must give the licence holder written notice of this decision, including the reasons for the decision, within 14 days after making the decision.
Note: A decision to refuse to replace a licence is a reviewable
decision (see regulation 676).