Clause 86

the applicant has not provided the Authority with such information relating to it or any person employed by or associated with it for the purposes of its business, and to any circumstances likely to affect its manner of conducting business, as the Authority may require;

the applicant or its substantial shareholder is in the course of being wound up or otherwise dissolved, whether in Singapore or elsewhere;

execution against the applicant or its substantial shareholder in respect of a judgment debt has been returned unsatisfied in whole or in part;

a receiver, a receiver and manager, judicial manager or such other person having the powers and duties of a receiver, receiver and manager or judicial manager, has been appointed whether in Singapore or elsewhere in relation to, or in respect of, any property of the applicant or its substantial shareholder;

the applicant or its substantial shareholder has, whether in Singapore or elsewhere, entered into a compromise or scheme of arrangement with its creditors, being a compromise or scheme of arrangement that is still in operation;

the applicant or its substantial shareholder, or any officer of the applicant —

has been convicted, whether in Singapore or elsewhere, of an offence involving fraud or dishonesty or the conviction for which involved a finding that it or he acted fraudulently or dishonestly; or

has been convicted of an offence under this Act;

the Authority is not satisfied as to the educational or other qualification or experience of the officers or employees of the applicant having regard to the nature of the duties they are to perform in connection with the holding of the licence;

the applicant fails to satisfy the Authority that it is a fit and proper person to be licensed or that all of its officers, employees and substantial shareholders are fit and proper persons;

the Authority has reason to believe that the applicant may not be able to act in the best interests of its subscribers or customers having regard to the reputation, character, financial integrity and reliability of the applicant or its substantial shareholders, officers or employees;

the Authority is not satisfied as to the financial standing of the applicant or its substantial shareholders or the manner in which the applicant’s business is to be conducted;

the Authority is not satisfied as to the record of past performance or expertise of the applicant having regard to the nature of the business which the applicant may carry on in connection with the holding of the licence;

there are other circumstances which are likely to —

lead to the improper conduct of business by the applicant, any of its officers or employees, or its substantial shareholders; or

reflect discredit on the manner of conducting the business of the applicant or its substantial shareholders;

the Authority has reason to believe that the applicant, or any of its officers, will not perform the functions for which the applicant seeks to be licensed, efficiently, honestly or fairly; or

the Authority is of the opinion that it would be contrary to the interests of the public to grant or renew the licence.