Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 2 December 2019 - onwards
  Version 3 of 3    

85. Meaning of "fit and proper person".

For the purposes of this Chapter and sections 108B to 108I, a person is not a fit and proper person if any of the following apply:

(a) the person has been convicted of any of the following offences:

(i) money laundering;

(ii) terrorist financing;

(iii) an offence involving fraud, dishonesty or breach of trust;

(iv) an offence in respect of conduct in a place other than the State that would constitute an offence of a kind referred to in subparagraph (i), (ii) or (iii) if the conduct occurred in the State;

(b) in a case where the person is an individual, the person is under 18 years of age;

(c) the person -

(i) has suspended payments due to the person's creditors,

(ii) is unable to meet other obligations to the person's creditors, or

(iii) is an individual who is an undischarged bankrupt;

(d) the person is otherwise not a fit and proper person.