Persons Suitable to Hold Licences
A licence will only be issued to a property management company applicant if the Property Management Services Authority is satisfied that the applicant is a person suitable to hold licences.
In determining whether a property management company is suitable to hold a licence, the Property Management Services Authority will consider all relevant factors, including but not limited to:
- whether the company is in liquidation or is the subject of a winding-up order;
- whether a receiver has been appointed in relation to the company;
- whether, in the 5 years before the licence application, the company has entered into a composition or scheme of arrangement with its creditors;
- whether the company has been convicted of a criminal offence;
- whether the company has been convicted of a disciplinary offence; and
- whether every director of the company is a suitable person to be associated with the company’s business of providing property management services.
