Fit and proper

(1) For the purposes of this Act, whether a person is fit and proper for any purpose or function under this Act shall be determined by the Registrar. 12 (2) In determining whether any person is a fit and proper person to be concerned in or associated with the ownership, management or operation of a moneylending business, the Registrar may consider such of the following as it considers appropriate– (a) whether the person– (i) is of good repute, having regard to the person’s character, honesty and integrity; (ii) is of sound and stable financial background; (iii) has any business association with any person who, in the opinion of the Registrar, is not of good repute, having regard to the character, honesty and integrity of that person, or who has undesirable or unsatisfactory financial resources; (iv) has, or has arranged, a satisfactory ownership structure; (v) holds or is able to obtain– (aa) financial resources adequate to ensure the financial viability of the moneylending business; and (bb) the services of persons who have sufficient experience in the operation of the moneylending 13 (vi) has sufficient knowledge, experience and skills to successfully operate the moneylending business; (b) whether senior management and each director, partner, shareholder, and any other person determined by the Registrar to be or connected with the ownership, administration or management of the moneylending business is a suitable person to act in that capacity; (c) whether any person proposed to be engaged or appointed to manage or operate the moneylending business is a suitable person to act in that capacity; (d) whether any other matter that may be prescribed, or condition that may be imposed on the licence, will be fulfilled; (e) any other matter that may be prescribed or which the Registrar considers appropriate. PART IA