(1) An application for a licence under this Part must be made to the Commissioner, in a manner and form determined by the Commissioner, and be accompanied by—
(a) any documents or information prescribed by the regulations; and
(b) any prescribed fee.
(2) The Commissioner may grant a licence to an applicant if the Commissioner is satisfied that—
(a) if the applicant is a natural person—the applicant is aged 18 years or over; and
(b) the grant of the licence would be consistent with the objects of this Act and any limitations or requirements prescribed by the regulations.
(3) The Commissioner may refuse to grant a licence—
(a) if the Commissioner is satisfied that a relevant person in relation to the application is not a fit and proper person to hold the licence; or
(b) on any other reasonable ground.
(4) The Commissioner may require an applicant to provide further information about or verification of a matter relevant to the application.
(5) In this section—
"relevant person", in relation to an application for a licence, means—
(a) the applicant for the licence; or
(b) if the applicant is a trust or corporate entity—each person who occupies a position of authority in the entity.