36URestrictions on acquiring relevant interests

36U Restrictions on acquiring relevant interests (1) It is a condition of a casino licence that, without the prior approval of the Commission— (a) a person who holds no relevant interest, or a relevant interest of less than 5%, in the casino operator does not acquire a relevant interest resulting in the person holding a relevant interest of 5% or more in the casino operator; and (b) a person who holds a relevant interest of 5% or more in the casino operator does not acquire any further relevant interest in the casino operator; and (c) a person who holds no relevant interest, or a relevant interest of less than 5%, in a holding company of the casino operator does not acquire a relevant interest resulting in the person holding a relevant interest of 5% or more in the holding company; and (d) a person who holds a relevant interest of 5% or more in a holding company of the casino operator does not acquire any further relevant interest in the holding company. (2) Approval of the Commission for the purposes of subsection (1) may be— (a) approval granted under section 36W; or (b) approval granted under section 28AD. S. 36V inserted by No. 42/2022 s. 22.