47Surrender of gaming machine licences

47 Surrender of gaming machine licences (1) A licensee may surrender the licensee's gaming machine licence by forwarding to or lodging with the Director the licence and a notification in the form determined by the Director. (1A) As soon as the licensee's gaming machine licence and the notification is forwarded to or lodged with the Director, the licensee must cease operating all gaming machines on the licensee's Maximum penalty: 2 500 penalty units. (2) A notification under subsection (1) shall be signed or executed in the same way as that specified for an application made under section 24(3)(b). (3) The Director may require a licensee surrendering a gaming machine licence under this subsection to submit such information or material in relation to the licence as the Director thinks fit. (4) The licensee shall not contravene or fail to comply with a requirement of the Director given under subsection (3). (5) The Director must, as soon as practicable after receiving a gaming machine licence and notification under subsection (1): (a) remove all gaming machines from the licensee's licensed (b) approve the method of removing the gaming machines and the method of disposing of those machines. (6) The surrender of a gaming licence takes effect when it is accepted by the Director or at a later time determined by the Director.

Gaming Machine Act 1995 53 (7) Before accepting the surrender of a gaming machine licence, the Director must consider whether the licensee has complied with all financial and legal obligations under the licence and may refuse to accept the surrender until all of those obligations have been complied with.