s 13 Grounds for declining to approve substantial shareholding, etc.
13. Approval under section 12(2)(a) or (b) may be refused, and a direction under section 12(2)(c) may be given, on the following grounds in particular:(a) the relevant person is a disqualified person;[Act 32 of 2024 wef 25/11/2024] (b) the relevant person is, in the Registrar’s opinion, not of good character;[Act 32 of 2024 wef 25/11/2024] (c) the relevant person is, in the Registrar’s opinion, not a fit and proper person to have a substantial shareholding in the applicant’s business of pawnbroking;[Act 32 of 2024 wef 25/11/2024] (d) the relevant person has carried on the business of pawnbroking in Singapore or elsewhere in a way that, in the Registrar’s opinion, makes the person unfit to hold a licence.[Act 32 of 2024 wef 25/11/2024]