Constitution of partnership or company to be licensed
22C.—(1)  If the applicant for a licence under Part IVA or IVB is a partnership, all the partners of the partnership must be approved by the Council before the licence may be granted or renewed.
[37/2005]
(2)  If the applicant for a licence under Part IVA or IVB is a limited liability partnership —
(a)all the partners of the limited liability partnership must be approved by the Council; and
(b)where any partner is a company, all the directors of that company must be approved by the Council,
before the licence may be granted or renewed.
[37/2005]
(3)  If the applicant for a licence under Part IVA or IVB is a company, all the directors of the company must be approved by the Council before the licence may be granted or renewed.
[37/2005]
(4)  No person shall be appointed to be a new partner or director of a licensee unless such person is approved by the Council.
[37/2005]
(5)  Every licensee to whom a licence has been granted under Part IVA or IVB shall inform the Council of —
(a)if the licensee is a partnership, the withdrawal by, or the expulsion of, any partner from the partnership;
(b)if the licensee is a limited liability partnership, the withdrawal by, or the expulsion of, any partner from the limited liability partnership and, where any partner is a company, the resignation or removal of any director of that company;
(c)if the licensee is a company, the resignation or removal of any director of the company; and
(d)if the licensee is a partnership, limited liability partnership or company, the death of any partner or director.
[37/2005]