124Disqualification from obtaining lease

124 Disqualification from obtaining lease

(1)  The following are disqualified from obtaining or holding a lease:

(a) [Section 124 Subsection (1) amended by No. 17 of 1996, Applied:15 May 1998] [Section 124 Subsection (1) amended by No. 8 of 2007, s. 9, Applied:30 Apr 2007] a person to whom 200 or more demerit points have been allocated;

(b) [Section 124 Subsection (1) amended by No. 8 of 2007, s. 9, Applied:30 Apr 2007] a person who is or has been a partner in a partnership or a major shareholder in a body corporate to which 200 or more demerit points have been allocated;

(c) a partnership or body corporate which has or had a partner or major shareholder –

(i) [Section 124 Subsection (1) amended by No. 8 of 2007, s. 9, Applied:30 Apr 2007] to whom 200 or more demerit points have been allocated; or

(ii) [Section 124 Subsection (1) amended by No. 8 of 2007, s. 9, Applied:30 Apr 2007] who has been a partner of another partnership or major shareholder in another body corporate to which 200 or more demerit points have been allocated.

(2)  A major shareholder is a person who holds more than 10% of the issued shares in a partnership or body corporate.

(3)  The Secretary, by notice in writing, must notify a person of –

(a) any disqualification; and

(b) the date on which the disqualification takes effect.

(4)  [Section 124 Subsection (4) amended by No. 8 of 2007, s. 9, Applied:30 Apr 2007] A person must transfer, to a person who is not their associate, a lease to which a disqualification relates –

(a) within 6 months after receipt of a notice under ; and