New South Wales Consolidated Acts New South Wales Consolidated Acts(cf former s 27 (1))
(1) The Authority shall consider each application for a licence under this Division and may, in its discretion--(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,(b) in the case of a corporation--(i) the paid up share capital of the applicant, and(ii) the memorandum and articles of association of the applicant,(c) the orderly run-off of claims for compensation under the former Act,(d) the efficiency of the workers compensation system generally, and(e) such other matters as the Authority thinks fit.
(3) For the purposes of subsection (2) (b), the Authority may approve of a model memorandum and articles of association for corporations applying for a licence.
(4) Without affecting the generality of subsection (1), the Authority may refuse an application for a licence from a corporation that is authorised by its memorandum and articles of association to carry on any business other than workers compensation business in New South Wales.
(5) Without affecting the generality of subsection (1), the Authority may refuse an application for a licence from a corporation that is related to other corporations (within the meaning of the Corporations Act 2001 of the Commonwealth)--(a) where any of those other corporations was previously licensed under section 27 of the former Act--if the directors of the applicant corporation do not include the directors of that other corporation, or(b) where none of those other corporations was previously so licensed--if the directors of the applicant corporation do not include the directors of a related corporation that controls the composition of the board of directors of the applicant corporation.