s 10 Grounds for refusing to grant or renew licence
10.—(1) A licence cannot be granted to a person who is not a company incorporated in Singapore. (2) A licence may be granted or renewed only in the prescribed circumstances. (3) The Registrar may, in particular, refuse to grant or renew a licence on the following grounds:(a) the prescribed licence fee is not paid;[Act 32 of 2024 wef 25/11/2024] (b) the application for the grant or renewal (as the case may be) —(i) contains materially false or misleading information; or (ii) is materially incomplete; (c) the applicant for the grant or renewal (as the case may be) —(i) does not have a paid-up share capital that is equal to or greater than the prescribed amount; or (ii) has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the applicant unfit to hold a licence; (d) in the Registrar’s opinion, the proposed place of business —(i) is unsuitable for carrying on the business of pawnbroking; or (ii) is situated at a location that is unsuitable for carrying on the business of pawnbroking; (e) a substantial shareholder of the applicant —(i) is a disqualified person; (ii) is, in the Registrar’s opinion, not of good character; (iii) is, in the Registrar’s opinion, not a fit and proper person to have a substantial shareholding in the applicant’s business of pawnbroking; or (iv) has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the applicant unfit to hold a licence; [Act 32 of 2024 wef 25/11/2024] (f) a person who is (or is proposed to be) a director or a manager of the applicant —(i) is below 21 years of age; (ii) is a disqualified person; (iii) is, in the Registrar’s opinion, not of good character; (iv) is, in the Registrar’s opinion, not a fit and proper person to carry on or manage the applicant’s business of pawnbroking; or (v) has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the applicant unfit to hold a licence; or (g) a person who is (or is proposed to be) a manager of the applicant —(i) is not ordinarily resident in Singapore; (ii) will not be ordinarily resident in Singapore while the person holds that position; or (iii) does not, in the Registrar’s opinion, possess adequate qualifications or experience for that position.