South Australian Consolidated Acts South Australian Consolidated Acts12—Duration of licence and annual fee and return etc
(1) A licence remains
in force (except for any period for which it is suspended) until—
(a) the
licence is surrendered or cancelled; or
(b) the
licensed agent dies or, in the case of a licensed body corporate, is
dissolved.
(2) A licensed agent
must, each year not later than the date fixed by regulation—
(a) pay
to the Commissioner the fee fixed by regulation; and
(b)
lodge with the Commissioner a return in the manner and form required by the
Commissioner.
(3) Where a
licensed agent fails to pay the annual fee or lodge the annual return in
accordance with subsection (2), or to comply with a notice or requirement
under section 11A, 11AB, 11AC or 11AD, the Commissioner may, by notice in
writing, require the agent to make good the default and, in addition, to pay
to the Commissioner the amount fixed by regulation as a penalty for default.
(4) Where the agent
fails to comply with the notice within a time fixed by the notice (which may
not be less than 28 days after service of the notice), the agent's licence is
cancelled.
(5) The Commissioner
must notify the agent in writing of the cancellation of the agent's licence.
(6) A licensed agent
may surrender the licence.
(7) In this
section—
"licensed agent" includes a licensed agent whose licence has been suspended.