Clause 84

An application for a licence or for the renewal of a licence shall be made to the Authority in such form and manner as the Authority may prescribe and, in the case of an application for renewal of a licence, shall be made not later than one month or such other period as the Authority may prescribe, before the expiry of the licence.

The Authority may require an applicant to supply the Authority with such further information as it considers necessary in relation to the application.

An application for a licence or for the renewal of a licence shall be accompanied by a non-refundable prescribed application fee which shall be paid in the manner specified by the Authority.

An application for a representative’s licence or for the renewal of a representative’s licence in respect of any regulated activity shall be supported in the prescribed manner by a principal who is the holder of or who has applied for a capital markets services licence for that regulated activity.

An application for a representative’s licence or for the renewal of a representative’s licence in respect of any regulated activity shall be deemed to be withdrawn if —

Where a person submits an application for renewal of his licence before the expiration of his licence but after the period referred to in subsection (1), the Authority may impose a late renewal fee not exceeding $100 for every day or part thereof that the renewal is late, subject to a maximum of $3,000.

Where a person would but for this section be guilty of an offence for not being the holder of a particular licence, if before the expiration of that licence he has applied for renewal of that licence and he complies with the requirements of this Act as though he were the holder of that licence, he shall not be guilty of the offence for the period from the expiry of that licence until that licence is renewed or his application for renewal is withdrawn or refused.