sec.147Relationship of key officials with prospective licensees

### sec.147 Relationship of key officials with prospective licensees This section applies if a key official knowingly has, directly or indirectly— a business or financial association with another person who is a prospective primary licensee; or a business or financial interest together with another person who is a prospective primary licensee. However, this section applies only if the key official has been given a direction by the chief executive not to have a financial relationship with a primary licensee or lottery agent. Immediately after the key official becomes aware that the other person is a prospective primary licensee, the official must give written notice of the official’s association or interest to the chief executive. Maximum penalty—40 penalty units. The chief executive may, by written notice given to the key official, direct the official to end the association, or give up the interest, within the time stated in the notice. However, the chief executive may give the direction only if the chief executive considers it appropriate to take the action in the public interest. A key official to whom a direction is given must comply with the direction within the time stated in the notice. Maximum penalty—40 penalty units. In this section— prospective primary licensee means a person who has applied for a primary licence but whose application has not yet been decided. s 147 amd 2007 No. 22 ss 53 , 3 sch 1 (sec.147-ssec.1) This section applies if a key official knowingly has, directly or indirectly— a business or financial association with another person who is a prospective primary licensee; or a business or financial interest together with another person who is a prospective primary licensee. (sec.147-ssec.2) However, this section applies only if the key official has been given a direction by the chief executive not to have a financial relationship with a primary licensee or lottery agent. (sec.147-ssec.3) Immediately after the key official becomes aware that the other person is a prospective primary licensee, the official must give written notice of the official’s association or interest to the chief executive. Maximum penalty—40 penalty units. (sec.147-ssec.4) The chief executive may, by written notice given to the key official, direct the official to end the association, or give up the interest, within the time stated in the notice. (sec.147-ssec.5) However, the chief executive may give the direction only if the chief executive considers it appropriate to take the action in the public interest. (sec.147-ssec.6) A key official to whom a direction is given must comply with the direction within the time stated in the notice. Maximum penalty—40 penalty units. (sec.147-ssec.7) In this section— prospective primary licensee means a person who has applied for a primary licence but whose application has not yet been decided. - (a) a business or financial association with another person who is a prospective primary licensee; or - (b) a business or financial interest together with another person who is a prospective primary licensee.