Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_824b:p2
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 824B (pt 2/2)
Character Range: 163520–164781

and in other ways; and
 (e) no unacceptable control situation (see Division 1 of Part 7.4) is likely to result if the licence is granted; and
 (f) no disqualified individual appears to be involved in the applicant (see Division 2 of Part 7.4); and
 (g) any other requirements that are prescribed by regulations made for the purposes of this subsection are satisfied.
This subsection has effect subject to subsections (3) and (4).

Note: The Minister must also have regard to the matters in section 827A in deciding whether to grant a licence.

Foreign bodies

 (3) If the applicant is a foreign body corporate, the Minister:
 (a) must not grant the applicant a licence unless the applicant is registered under Division 2 of Part 5B.2; and
 (b) may otherwise grant a licence under either subsection (1) or (2) (subject to the relevant criteria being satisfied).

Disqualified individuals

 (4) The Minister must not grant the applicant a licence unless:
 (a) ASIC has notified the Minister that, as far as ASIC is aware, no disqualified individual is involved in the applicant (see Division 2 of Part 7.4); or
 (b) 42 days have passed since the application was made and ASIC has not given a notice under subsection 853D(2) to the applicant within that 42 days.