(1) A person may hold a commercial agent licence only if the person is a fit and proper person to hold the licence.
(2) A person is not a fit and proper person to hold a commercial agent licence if--(a) the person is a disqualified person, or(b) the Secretary makes a finding that the person is not a fit and proper person to hold a licence.
(3) The Secretary may determine that a person is not a fit and proper person to hold a commercial agent licence on such grounds as the Secretary sees fit, including, but not limited to, the following grounds--(a) the person has been authorised to carry out a commercial agent activity under a licence (however described) of another State or Territory and that licence--(i) is suspended, or(ii) has, within the previous 5 years, been cancelled and the person has not held a licence since the cancellation,(b) the person has been authorised to carry out an activity under another Act administered by the Minister and that authorisation--(i) is suspended, or(ii) has, within the previous 5 years, been cancelled and the person has not held an authorisation since the suspension,(c) the person has, within the previous 10 years, been convicted of a relevant offence,(d) any ground prescribed by the regulations.
(4) A corporation is not a fit and proper person to hold a commercial agent licence unless the corporation and each officer of the corporation is a fit and proper person to hold the licence.
(5) A partner in a firm is not a fit and proper person to hold a commercial agent licence unless the partner and each other partner in the firm is a fit and proper person to hold a licence.