Overview of Part

(1)   Servicing licences are granted by the Secretary on application.

(2)   The Secretary must refuse an application if the applicant does not meet certain suitability requirements.

(3)   There are conditions that are common to all servicing licences. In addition, the Secretary may impose conditions on a servicing licence. New conditions may be imposed, or existing conditions amended or revoked, during the life of the licence.

(4)   Servicing licences are granted for a period but may be renewed on application.