(1) A licence holder must notify the regulator as soon as practicable if the licence document is lost, stolen or destroyed.: Maximum penalty--(a) in the case of an individual--15 penalty units, or(b) in the case of a body corporate--70 penalty units.
(2) If a licence document is lost, stolen or destroyed, the licence holder may apply to the regulator for a replacement document.Note : A licence holder is required to keep the licence document available for inspection (see clause 94).
(3) An application for a replacement licence document must be made in the manner and form required by the regulator.
(4) The application must--(a) include a declaration describing the circumstances in which the original document was lost, stolen or destroyed, andNote : See section 268 of the Act for offences relating to the giving of false or misleading information under the Act or this Regulation.(b) be accompanied by the relevant fee.
(5) The regulator must issue a replacement licence document if satisfied that the original document was lost, stolen or destroyed.
(6) If the regulator refuses to issue a replacement licence document, it must give the licence holder written notice of this decision, including the reasons for the decision, within 14 days after making the decision.Note : A decision to refuse to replace a licence is a reviewable decision (see clause 676).