### sec.228B Object The object of this part is to facilitate a transaction comprising the following— GCLC stops being a company GOC; the shares in GCLC are transferred; GCLC’s current lottery licence ends; a lottery licence is issued to the State company; a lottery operator’s licence is issued to GCLC; the State company and GCLC enter into an agreement which is approved as a lottery operation agreement; the State company starts operating as a lottery licensee; GCLC starts operating as a lottery operator in compliance with this part. s 228B ins 2007 No. 22 s 62 - (a) GCLC stops being a company GOC; - (b) the shares in GCLC are transferred; - (c) GCLC’s current lottery licence ends; - (d) a lottery licence is issued to the State company; - (e) a lottery operator’s licence is issued to GCLC; - (f) the State company and GCLC enter into an agreement which is approved as a lottery operation agreement; - (g) the State company starts operating as a lottery licensee; - (h) GCLC starts operating as a lottery operator in compliance with this part.

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