Western Australian Consolidated Regulations

FINANCE BROKERS CONTROL (GENERAL) REGULATIONS 2005 - REG 18A

18A .         Requirements for a “D” class licence (section 95(2)(ba))

                The following requirements are imposed as prerequisite criteria to the grant of a “D” class licence to an individual —

            (a)         the individual must be either a partner of a firm or a director of a body corporate that is a licensee, or that is applying for a licence under section 24 of the Act or renewing a licence under section 32 of the Act;

            (b)         the individual must identify and nominate another individual in the employ of the firm or body corporate who has bona fide control of the finance broking operations of the business of the firm or body corporate;

            (c)         the individual nominated under paragraph (b) must be the holder of an “A” class licence or a “B” class licence.

        [Regulation 18A inserted in Gazette 5 Jan 2007 p. 9‑10.]