SLED must refuse your application, or revoke your Master licence, if you or a close associate at any time in the three years immediately before the application for the licence (or during the term of the licence) was:
- An undischarged bankrupt or applied to take the benefit of any law for the relief of bankrupt or insolvent debtors
- Concerned in the management of a corporation that was the subject of a winding up order or when a controller or administrator was appointed.
These mandatory grounds apply unless you can prove you took all reasonable steps to avoid the bankruptcy, liquidation or administration.
SLED must refuse a corporation’s application, or revoke its Master licence, if:
- It is the subject of a winding up order for which a controller or administrator has been appointed, or
- At any time in the three years immediately preceding the application for the licence (or during the term of the licence) it was subject of a winding up order or a controller or administrator was appointed.