(a) state whether the applicant has the adequate professional, technical knowledge, experience or operational ability to perform the functions of a trustee;
(b) contain or be accompanied by any other information that the Authority may require for the purpose of determining the application;
(c) contain the address of a place in Uganda for the service on the applicant of any notice or document required or authorized to be served on the applicant under this Act;
(d) be accompanied by the prescribed fee.
(a) the information contained in the application is false in any material particular;
(b) the applicant is not a fit and proper person as prescribed in Part II of Schedule 3;
(c) the applicant has ever been a trustee of a retirement benefits scheme whose licence was revoked by the Authority due to any fault either fully or partially of the applicant; or
(d) the applicant does not meet the requirements specified in Part 1. of the Section above.
A person shall not be licensed as a trustee of a retirement benefits
scheme if he or she—
(a) has been sentenced to imprisonment by a court of competent jurisdiction for six months or more;
(b) is declared bankrupt or insolvent, or has entered into an arrangement with his or her creditors; was previously involved in the management or administration of a retirement benefits scheme whose licence has been revoked under this Act, due to his or her
fault either fully or partially; is disqualified under any other written law, or his or her holding office as such is determined by the Authority asbeing, in any way, detrimental to the retirement benefits scheme; or is not a fit and proper person as prescribed in Schedule 3.(of the URBRA Act, 2011)
(1) A licence issued to a trustee 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 a trustee if—
(a) the Authority discovers, after the licence has been issued, that the trustee made a false statement in relation to the application;
(b) an event occurs which renders the trustee ineligible to perform his or her functions as a trustee;
(c) the trustee is declared bankrupt or insolvent, or enters into an arrangement with his or her creditors;
(d) the trustee is in breach of any condition of the licence;
(e) the trustee is disqualified by virtue of section 43;
(f) the trustee ceases to be a fit and proper person as prescribed
in Part II of Schedule 3; or
(g) the trustee does not comply with any provision of this Act, or any regulations made under this Act.
(2) The Authority shall give the trustee 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 a trustee, consider any representations made in writing by the trustee opposing the revocation.
(4) The Authority shall revoke the licence of a trustee if—
(a) within thirty days after issuing the notice, the trustee has not opposed the revocation; or
(b) the Authority is not satisfied by the representation made by the trustee under subsection (3).