PREVENTION OF FRAUD (INVESTMENTS) ACT (NORTHERN IRELAND) 1940 - SECT 5 Refusal and revocation of licences.

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PREVENTION OF FRAUD (INVESTMENTS) ACT (NORTHERN IRELAND) 1940 - SECT 5

Refusal and revocation of licences.

5. Subject to the provisions of this section, the Ministry may refuse to grant
an application for a licence or, where a licence has been granted, may revoke
the licence, if

(1)the applicant or the holder of the licence has not, on the occasion of the
application or, as the case may be, at any prescribed time during the currency
of the licence, furnished to the Ministry such information relating to him,
and to any circumstances likely to affect his method of conducting business,
as may be prescribed, being information verified in such manner, whether by
statutory declaration or otherwise, as the Ministry may require, or

(2)it appears to the Ministry that

(a)by reason of the applicant or the holder of the licence, or any person
employed by, or associated with, the applicant or holder for the purposes of
his business

(i)having been convicted within His Majesty's dominions of an offence his
conviction for which necessarily involved a finding that he acted fraudulently
or dishonestly, or

(ii)having been convicted of an offence under this Act, or

<(iii)having committed a breach of any rules made by the Ministry under this Act for regulating the conduct of business by holders of licences, or


(b)by reason of any other circumstances whatsoever which either are likely to
lead to the improper conduct of business by, or reflect discredit upon the
method of conducting business of, the applicant or holder or any person so
employed by or associated with him as aforesaid,

the applicant or holder is not, or, as the case may be, is no longer, a fit
and proper person to hold a licence;

Representations by applicant or holder of licence.

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Northern Irish Legislation

PREVENTION OF FRAUD (INVESTMENTS) ACT (NORTHERN IRELAND) 1940 - SECT 5