Section 43 — Security clearance a prerequisite for licence, etc.

(1)An individual is not eligible for a licence, or to continue to hold a licence, unless the individual has a security clearance that is in force.

(2)A person that is not an individual is not eligible for a licence, or to continue to hold a licence, unless —

(a)all of its responsible executives each has a security clearance that is in force; and

(b)at least one close associate of the person has a security clearance that is in force.

(3)A security clearance may be granted or cancelled by a Licensing Officer in accordance with this Division.