Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts(1) This section applies where—
(a) a person has applied for a key person licence; and
(b) the application has been refused.
(2) Where this section applies, the Commissioner may, by written notice given to the person referred to in subsection (1), require him or her to terminate the relevant key relationship within the time stated in the notice.
(3) A person shall not, without reasonable excuse, fail to comply with a requirement under subsection (2) within the time stated in the notice.
Penalty: 100 penalty units or imprisonment for 1 year.
(4) A person does not incur any liability as a result of action taken to comply with a notice under this section.