(1) An application for a licence to act as an administrator shall be in the prescribed form and shall
(2) The Authority may grant a licence to an applicant who meets the requirements specified in subsection (1).
(3) The Authority shall publish in the Gazette and in a newspaper with wide circulation, a list of all licensed administrators, at least once in every year.
(4) A person who acts as an administrator of a retirement benefits scheme without a licence issued under this Act commits an offence and is liable on conviction to a fine not exceeding one thousand currency points or imprisonment not exceeding six years, or both.
(1) The Authority may refuse to grant a licence to an applicant if the Authority is satisfied that
(2) Where the Authority refuses to grant a licence to an applicant, the Authority shall notify the applicant of its decision and specify the reasons for the refusal in writing.
(1) A person shall not be licensed as an administrator of a retirement benefits scheme if he or she
(1) A licence issued to an administrator shall be valid for one year and may be renewed upon payment of the prescribed fee.
(2) An application for the renewal of a licence under subsection (1) shall be made at least three months before the expiry of the licence.
(1) The Authority may revoke the licence of an administrator if;
(2) The Authority shall give the administrator at least thirty days notice in writing specifying the reasons for the intended revocation of the licence.
(3) The Authority shall, before revoking a licence of an administrator, consider any representations made in writing by the administrator opposing the revocation.
(4) The Authority shall revoke the licence of an administrator if;