Cap. 615 Art. 5Application for licence. 6 [

(1) Every person who desires to obtain a licence under the Act shall submit an application to the Board in the prescribed form.

(2) Every application under sub-article (1):

(a) shall state the place or places of activity where applicant intends to carry out the activity; and

(b) shall, where the applicant has or proposes to have two (2) or more places of activity, specify which of those places of activity is to be his principal place of activity.

(3) Real estate agents who intend to carry out their activity through a partnership in compliance with the provisions of sub-articles

(4) and (5) of article 3 shall submit an application to the Board in the prescribed form.

(4) Every application under sub-article (3) shall state:

(a) the official full name and registration number of the partnership;

(b) the date of incorporation or registration of the partnership;

(c) the registered address or principal place of activity of the partnership;

(d) the names and identity reference numbers of all directors, partners, company secretary and beneficial owners; and CAP.615. PROPERTY CONSULTANT

(e) the licence number of the directors who are licensees.

(5) The Board shall authorise the exercise of the activity as envisaged under sub-articles (4) and (5) of article 3 upon being satisfied that:

(a) the requirements of sub-articles (4) to (6) of article 3 have been complied with; and

(b) having regard to the beneficial owners’ conduct and repute, their financial position, and the interests of the public, the beneficial owners are fit and proper persons to be involved in a partnership which has as its main object the activity envisaged under article 3(1).

(6) There shall be no change in beneficial ownership, in the board of directors or partners of a partnership, formed for the purpose of sub-articles (4) or (5) of article 3, unless the said change is notified to the Board in the prescribed form and the Board gives its approval thereto upon being satisfied that the criteria set out in articles 3(6) and 5(5) are met.

(7) In case of a change in beneficial ownership, in the board of directors or partners, of a partnership formed for the purpose of sub-articles (4) or (5) of article 3, the partnership may not resume its activity unless such changes are approved by the Board in terms of sub-article (6).

(8) When the Board decides to refuse a request for an approval of a change as envisaged in sub-article (6), it shall inform the applicant and state in the notice the grounds for its decision.

(9) The Board shall also be informed whenever:

(a) any one (1) director or partner of a partnership formed for the purposes of sub-articles (4) or (5) of article 3 resigns or is otherwise removed; or

(b) it is resolved or otherwise decided that a partnership formed for the purposes of sub-articles (4) or (5) of article 3 be dissolved and consequently wound up.