38 (1) An applicant is entitled to a licence or a renewal of a licence by the registrar if, in the registrar’s opinion, (a)  the applicant is not a corporation and, (i)  having regard to the past and present financial position of the applicant, all interested persons in respect of the applicant and all other prescribed persons, the applicant can reasonably be expected to be financially responsible in the conduct of business, (ii)  the past and present conduct of the applicant, of all interested persons in respect of the applicant and of all other prescribed persons affords reasonable grounds to believe that the applicant will carry on business in accordance with the law and with integrity and honesty, and (iii)  neither the applicant, nor any employee or agent of the applicant, nor any other prescribed person has made any false statement with respect to the conduct of the applicant’s business; (b)  the applicant is a corporation and, (i)  having regard to its past and present financial position and the past and present financial position of all interested persons in respect of the corporation, the applicant can reasonably be expected to be financially responsible in the conduct of its business, (ii)  having regard to the past and present financial position of its officers and directors and of all interested persons in respect of its officers and directors, the applicant can reasonably be expected to be financially responsible in the conduct of its business, (iii)  the past and present conduct of its officers and directors, of all interested persons in respect of its officers and directors and of all interested persons in respect of the corporation affords reasonable grounds for belief that its business will be carried on in accordance with the law and with integrity and honesty, and (iv)  no officer or director of the corporation has made any false statement with respect to the conduct of the applicant’s business; (c)  neither the applicant, nor any interested person in respect of the applicant, has carried on or is carrying on activities, (i)  that are in contravention of this Act or the regulations, or that will be in contravention of this Act or the regulations if the applicant is issued a licence, or (ii)  that are in contravention of prescribed legislation, or that will be in contravention of prescribed legislation if the applicant is issued a licence; (d)  the applicant is not in breach of a condition of the licence, if the applicant is applying for a renewal of a licence; (e)  the applicant meets the prescribed requirements, if any, including requirements for competency; (f)  the applicant or, if the applicant is a corporation, its directors, officers and other prescribed persons, have complied with all tax laws and regulations that are prescribed; and (g)  granting the licence or the renewal, as the case may be, would not be contrary to the public interest. 2017, c. 33, Sched. 1, s. 38 (1); 2022, c. 12, Sched. 3, s. 1. Notice of prescribed material change (2) An applicant for a licence or a renewal of a licence who experiences a material change, as prescribed, at any time shall, (a)  promptly inform the registrar of the change; (b)  promptly answer any inquiries that the registrar has with respect to the change; and (c)  produce any documents or information that the registrar requests with respect to the change within the time that the registrar specifies. 2017, c. 33, Sched. 1, s. 38 (2). Information from warranty authority (3) The registrar may request, from the warranty authority, (a)  information about the financial position of an applicant for a licence or a renewal of a licence or a licensee; or (b)  information about any of the other criteria set out in subsection (1) with respect to the person described in clause (a). 2017, c. 33, Sched. 1, s. 38 (3). Same (4) The warranty authority shall comply with the request. 2017, c. 33, Sched. 1, s. 38 (4). Notice to warranty authority (5) Upon granting an application for a licence or a renewal of a licence, the registrar shall notify the warranty authority that the registrar has granted the application. 2017, c. 33, Sched. 1, s. 38 (5). Section Amendments with date in force (d/m/y) 2022, c. 12, Sched. 3, s. 1 - 14/04/2022