Document ID: chunk:federal_register_of_legislation:C2025C00185:section:913b:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 913B (pt 2/2)
Character Range: 3697778–3698918

the licence applied for; and
 (b) subsection (4B) applies in relation to such a request even if the applicant is unable to comply with the request.
 (4A) ASIC may, by written notice to the applicant within the time specified in the notice:
 (a) withdraw a request under subsection (3); or
 (b) extend the time specified in the notice.
 (4B) If the applicant does not lodge with ASIC in a prescribed form the information, audit report or statement requested in a notice under subsection (3) within the specified time, the applicant is taken to have withdrawn the application.
 (4C) To avoid doubt, subsection (5) does not apply to an application that is taken to have been withdrawn under subsection (4B).
 (4D) The regulations may make provision in relation to audit reports that applicants may be requested to lodge under paragraph (3)(b).

Applicant must be given hearing before refusal of licence
 (5) ASIC may only refuse to grant a licence after giving the applicant an opportunity:
 (a) to appear, or be represented, at a hearing before ASIC that takes place in private; and
 (b) to make submissions to ASIC in relation to the matter.