10. Grounds for refusing to grant or renew licence

the prescribed licence fee is not paid;

the application for the grant or renewal (as the case may be) —

contains materially false or misleading information; or

is materially incomplete;

the applicant for the grant or renewal (as the case may be) —

does not have a paid-up share capital that is equal to or greater than the prescribed amount; or

has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the applicant unfit to hold a licence;

in the Registrar’s opinion, the proposed place of business —

is unsuitable for carrying on the business of pawnbroking; or

is situated at a location that is unsuitable for carrying on the business of pawnbroking;

a substantial shareholder of the applicant —

is a disqualified person;

is, in the Registrar’s opinion, not of good character;

is, in the Registrar’s opinion, not a fit and proper person to have a substantial shareholding in the applicant’s business of pawnbroking; or

has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the applicant unfit to hold a licence;

a person who is (or is proposed to be) a director or a manager of the applicant —

is below 21 years of age;

is a disqualified person;

is, in the Registrar’s opinion, not of good character;

is, in the Registrar’s opinion, not a fit and proper person to carry on or manage the applicant’s business of pawnbroking; or

has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the applicant unfit to hold a licence; or

a person who is (or is proposed to be) a manager of the applicant —

is not ordinarily resident in Singapore;

will not be ordinarily resident in Singapore while the person holds that position; or

does not, in the Registrar’s opinion, possess adequate qualifications or experience for that position.