This legislation has been repealed.
(1) Notwithstanding a finding by the court that a ground of objection to the grant of an application specified in section 45 (1) (a1) or (3) (a)-(e) has been made out, the court has a discretion to grant the application.
(1A) The court may grant an application even though a ground of objection to the grant of the application has been made out under section 45 (3) (f) or (5) (d), but only if the court is satisfied that reasonable cause has been shown for the failure to comply with the requirement concerned.
(2) Notwithstanding that an objection to the grant of an application for a licence on the ground specified in section 45 (1) (a), (a1) or (a2) has not been taken or made out, the court may refuse the application if it finds, after subsection (3) has been complied with:(a) that the applicant is not a fit and proper person to be the holder of a licence, or(a1) that a person who is, was or will be a close associate of the applicant is not a fit and proper person to be a close associate of the holder of a licence, or(a2) in the case of an application for the grant of a licence to a body corporate--that a person who occupies a position of authority in the body is not a fit and proper person to occupy such a position in a body that is to be the holder of a licence.
(3) A finding under subsection (2) may not be made unless:(a) the applicant has been made aware of reasons for the possibility of such a finding,(b) the applicant has been given an opportunity to make submissions, and adduce evidence related to those reasons, and(c) those reasons are, or are included in, the reasons for the finding.