Section 16Part 5 — Trade CertificateAmended
Grant or refusal of trade certificate
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Where an application is submitted pursuant to section 14, the Authority shall within seven days of the application being made or additional information being received pursuant to section 15, as the case may be, grant or refuse the trade certificate and notify the applicant of the grant or the refusal and shall give the reasons in writing for a refusal.
The Authority shall not approve a trade certificate application where the Authority considers that —
the grant of the application is not in the public interest, including where it presents a high level of reputational risk for the jurisdiction;
the applicant for a trade certificate is not a fit and proper person;
the applicant has contravened section 14(4); or
the applicant for a trade certificate has a controller, beneficial owner, director, senior officer or shareholder that is not a fit and proper person.