(1) A licence holder
must notify the regulator as soon as practicable if the licence document is
lost, stolen or destroyed.
Penalty for this subregulation:
(a) for
an individual, a fine of $1 450;
(b) for
a body corporate, a fine of $7 000.
(2) If a licence
document is lost, stolen or destroyed, the licence holder may apply to the
regulator for a replacement document.
Note for this subregulation:
A licence holder is
required to keep the licence document available for inspection (see
regulation 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; and
Note for this paragraph:
See section 268
of the Act for offences relating to the giving of false or misleading
information under the Act, including these regulations.
(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 for this subregulation:
A decision to refuse
to replace a licence document is a reviewable decision (see
regulation 676).