Australian Capital Territory Consolidated Acts

SALE OF MOTOR VEHICLES ACT 1977 - SECT 14A

    (1)     An individual is eligible for the renewal of the licence held by him or her if—

        (a)     the individual is a suitable person; and

        (b)     the individual is not bankrupt and has not executed a personal insolvency agreement; and

        (c)     for the renewal of a vehicle sale licence—the individual has sufficient material and financial resources to carry on that business in accordance with subsection (3); and

        (d)     if the licence is granted, the individual intends to carry on the business during the period of the licence.

    (2)     A corporation is eligible for the renewal of the licence held by the corporation if—

        (a)     each of the executive officers of the corporation is a suitable person; and

        (b)     for the renewal of a vehicle sale licence—the corporation has sufficient material and financial resources to carry on that business in accordance with subsection (3); and

        (c)     if the licence is granted, the corporation intends to carry on the business during the period of the licence.

    (3)     For subsection (1) (c), the question whether an applicant for renewal has sufficient material and financial resources to carry on the business during the period of the renewal is to be determined having regard to—

        (a)     the scope of the applicant's business operations; and

        (b)     the liabilities the applicant has incurred and may incur in the course of carrying on business.