127FTrading authorisations—forfeiture requirement

127F Trading authorisations—forfeiture requirement (1) This section applies to the acquisition, by a licensee (the acquiring licensee), of an authorisation from another licensee (the disposing licensee), with or without the related gaming machine. (2) The acquiring licensee— (a) must acquire the authorisations in groups of 4 authorisations; and (b) may acquire the 4 authorisations from more than 1 class B or class C licensee. Example—par (b) Lili (an acquiring licensee) wants to acquire authorisations. Lili must acquire the authorisations in groups of 4. Brigitta (a class C licensee) has 2 class C authorisations to sell. Antoni (also a class C licensee) also has 2 class C authorisations to sell. Lili may acquire the 4 authorisations from Brigitta and Antoni. Under s (4), Lili must forfeit 1 of the acquired authorisations to the Territory. Note A failure to comply with s (2) (a) is a ground for disciplinary action

(3) However, the acquiring licensee may acquire less than 4 authorisations if the acquiring licensee acquires the authorisations from a disposing licensee who— (a) intends to surrender an authorisation certificate under section 37F (Surrender of licences, authorisation certificates and authorisations); and (b) has less than 4 authorisations to dispose of under the (4) The acquiring licensee must forfeit 1 authorisation to the Territory for every 4 authorisations the licensee acquires under this section. (5) The acquiring licensee is not entitled to claim compensation from the Territory for an authorisation forfeited to the Territory under subsection (4).