New South Wales Consolidated Acts New South Wales Consolidated Acts(cf s 102 MAA)
(1) The Authority is to consider each application for a licence under this Part and may--(a) grant a licence to the applicant, or(b) refuse the application.
(2) The Authority may, in determining an application for a licence, take into consideration--(a) the suitability of the applicant, and(b) the paid-up share capital and reserves of the applicant, and(c) the constitution of the applicant (if any), and(d) the re-insurance arrangements of the applicant, and(e) the efficiency of the motor accidents scheme under this Act generally, and(f) such other matters as the Authority thinks fit.
(3) Despite subsection (1), the Authority must refuse an application for a licence from a corporation that does not comply with such requirements as are prescribed by the regulations for the purposes of this section.
(4) A licence must not be granted under this Part unless the applicant has paid (or has made arrangements acceptable to the Authority for the payment of) the fee determined by the Authority, with the approval of the Minister, for the grant of the licence.
(5) When the Authority proposes to grant a licence to a corporation, it must give 14 days' notice of the proposal to all licensed insurers specifying the name of the corporation.