11. The Minister refuses to issue a licence to a money-services business if it
(1) does not meet the requirements of this Act and, in particular, is not of good moral character as determined under section 23;
(2) has made an assignment of property or is insolvent or bankrupt;
(3) has had its right to operate revoked by a Canadian or foreign money-services regulator in the last 10 years;
(4) has, in the last 10 years, been convicted of an offence under Part II.1, IV, IX, X, XII or XII.2 or any of sections 467.11 to 467.13 of the Criminal Code (R.S.C. 1985, c. C-46), or an offence under the Controlled Drugs and Substances Act (S.C., 1996, c. 19), other than an offence under subsection 1 of section 4 of that Act, or an attempt or conspiracy to commit such an offence, or counselling the commission of such an offence, unless a pardon has been obtained;
(5) has entered into a contract for the loan of money with a lender, other than a financial institution referred to in subparagraph 3 of the first paragraph of section 6, who or one of whose officers, directors or partners has, in the last 10 years, been convicted of an indictable offence in connection with the activities carried on by the lender, or an indictable offence under sections 467.11 to 467.13 of the Criminal Code, unless a pardon has been obtained; or
(6) has, in the last 10 years, been convicted by a foreign court of an offence which, if committed in Canada, could have resulted in criminal or penal proceedings under any Part of the Criminal Code or of the Act referred to in paragraph 4, unless a pardon has been obtained.