60Cancelled transferable licences may be transferred

60 Cancelled transferable licences may be transferred S. 60(1) substituted by No. 35/2009 s. 64(2), amended by Nos 68/2016 s. 75(1), 40/2019 s. 39(1). (1) This section applies to a licence that is transferable and that has been cancelled by a court, the Victorian Fisheries Authority or the Secretary except— (a) a licence cancelled under section 57(7); or S. 60(1)(b) amended by Nos 64/2015 s. 4(a), 68/2016 s. 75(2). (b) a licence cancelled by the Secretary or the Victorian Fisheries Authority in accordance with a direction under section 61; or S. 60(1)(c) inserted by No. 64/2015 s. 4(b), amended by No. 35/2019 s. 5(1). (c) a licence cancelled under Division 5 of Part 8; or S. 60(1)(d) inserted by No. 35/2019 s. 5(2). (d) a licence surrendered or cancelled under Division 6 of Part 8. S. 60(2) amended by No. 68/2016 s. 75(3). (2) The Victorian Fisheries Authority must notify each holder of a registered financial interest in the licence of the cancellation. (3) For the purposes of this section, the cancellation of the licence is stayed and the licence is deemed to have been suspended until whichever of the following first occurs— (a) an appeal against the cancellation of the licence is granted; or (b) if there is no appeal against the cancellation of the licence or the appeal is dismissed— (i) the holder of the licence or the registered financial interest transfers the licence to an eligible person in accordance with this Act; or (ii) the expiry of the period of 6 months after the date on which an appeal should have been lodged or was dismissed (as the case may be). (4) If subsection (3)(b) applies and the holder of the licence fails to transfer the licence in accordance with that subsection, the licence is cancelled as from the expiry of the period of 6 months specified in that subsection. (5) If subsection (3)(b) applies but subsection (4) does not apply, the cancellation of the licence by the court is revoked on the transfer of the licence to the eligible person. S. 60(6) inserted by No. 35/2009 s. 64(3). (6) If during the period of suspension of a licence under subsection (3), the term of that licence expires, the term of the licence is extended until the end of that period. S. 60A inserted by No. 80/2000 s. 8. S. 60A (Heading) inserted by No. 108/2003 s. 32(1).