Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 783

783. (1) This section has effect where a natural person applies for a licence.

(2) The Commission shall grant the licence if:

   (a)  the application was made in accordance with section 782;

   (b)  the person is not an insolvent under administration;

   (c)  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;

   (d)  it has no reason to believe that the person is not of good fame and
        character; and

   (e)  it has no reason to believe that the person will not perform those
        duties efficiently, honestly and fairly.

(3) Otherwise, the Commission shall refuse the application.

(4) In determining whether or not it has reason to believe as mentioned in
paragraph (2) (d) or (e), the Commission shall have regard to any conviction
of the person, during the 10 years ending on the day of the application, of
serious fraud.

(5) A licence granted under a law corresponding to this section and in force
at the commencement of this Part shall be deemed to have been granted under
this section.