Queensland Consolidated Acts Queensland Consolidated Acts(1) This section applies if—
(a) a corporation holds a licence; and
(b) an individual who does not have a positive prescribed notice or positive exemption notice becomes an executive officer of the corporation or the nominee for the licence; and
(c) an application for a prescribed notice or exemption notice is made for the individual.
(2) Section 26(2) does not apply to the individual until the application is decided, or is withdrawn or lapses.