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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 783
Grant of licence to natural person
(1) This section has effect where a natural person applies for a licence.
(2) ASIC must grant the licence if:
- the application was made in
accordance with section 782; and
- the person is not an insolvent under administration; and
- it is satisfied that the person's educational qualifications and
experience are adequate having regard to the nature of the duties of a holder
of a licence of the kind applied for; and
- it has no reason to believe that the person is not of good fame and
- it has no reason to believe that the person will not perform those duties
efficiently, honestly and fairly.
(3) Otherwise, ASIC must refuse the application.
(4) In determining whether or not it has reason to believe as mentioned in
paragraph (2)(d) or (e), ASIC must have regard to any conviction of the
person, during the 10 years ending on the day of the application, of serious
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