Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Regulator must consider an application under section 40 for a licence in accordance with this Part.
(2) However, the Regulator is not required to consider the application , or may cease considering the application, if:
(a) the application does not contain the information specified by the Regulator or prescribed by the regulations; or
(b) the application does not satisfy subsection 40(3); or
(c) the application is not accompanied by the application fee (if any) prescribed by the regulations; or
(d) the applicant did not provide further information required by the Regulator by notice under section 42 within the period specified in the notice; or
(e) the Regulator is satisfied that to issue the licence would be inconsistent with a policy principle in force under section 21 ; or
(f) the Regulator is satisfied (having regard to the matters specified in section 58) that the applicant is not a suitable person to hold a licence.
(3) The Regulator must issue the licence, or refuse to issue the
licence, within the period (if any) prescribed by the regulations.