39BEffect of transfer

39B Effect of transfer (1) If the Director authorises the transfer of a transferable licence, on the date specified in the replacement licence under section 39A(3)(b): (a) the proposed transferee becomes the licensee; and (b) any other changes mentioned in section 39A(3)(d) take effect. (2) The transfer of the licence does not affect the liability of the former licensee in relation to anything that occurred before the transfer date. (3) The former licensee must deliver the former licensee's licence to the Director not later than 14 days after the transfer takes effect.