(1) The chief executive may issue a licence for a period of not longer than 3 years.
(2) A licence may be issued subject to any conditions stated in the licence.
(3) Without limiting subsection (2), it is a condition of every licence—
(a) that the licensee must not contravene this Act; and
(b) that the licensee must tell the chief executive about any change of address or close associates as soon as practicable after the change happens (but within 7 days after the day the change happens).
(4) The regulations may prescribe additional conditions a licensee must comply with.
(5) If the chief executive decides to issue a licence subject to a condition under subsection (2), the chief executive must give the applicant written notice of the decision within 14 days after the day the decision is made.