(1)  The Director of Gas must consider an application for the issue of a licence and may, subject to this Division, issue or refuse to issue the licence within 60 days after receiving the application.

(2)  Subject to this section, the Director may issue a licence only if satisfied that –

(a) the applicant is a body corporate or a partnership of 2 or more bodies corporate; and

(b) the applicant is suitable to hold the licence; and

(c) in the case of a licence authorising the operation of a distribution system, the system has (or the proposed system will have) the necessary capacity for distributing gas safely; and

(d) in the case of a licence authorising retailing of gas, the applicant will be able to meet reasonably foreseeable obligations under contracts for the sale of gas; and

(e) in the case of a licence authorising other operations for which a licence is required under the regulations, the applicant meets any special requirements imposed by the regulations for the holding of the licence; and

(f) in the case of a licence of any class, the grant of the licence would be consistent with criteria (if any) prescribed by the regulations for a licence of the relevant class.

(3)  In deciding whether an applicant is a suitable person to hold a licence, the Director may consider –

(a) the applicant's previous commercial and other dealings and the standard of honesty and integrity shown in those dealings; and

(b) the financial, technical and human resources available to the applicant; and

(c) the officers and, if applicable, major shareholders of the applicant and their previous commercial and other dealings and the standard of honesty and integrity shown in those dealings (including breaches of statutory and other legal obligations); and

(d) any other matters prescribed by the regulations.