73Transfer of lease

73 Transfer of lease

(1)  A lessee may apply to the Minister for approval to transfer the lease.

(2)  [Section 73 Subsection (2) amended by No. 8 of 2007, s. 4, Applied:30 Apr 2007] The application is to be –

(a) in an approved form; and

(b) accompanied by the prescribed fee; and

(c) lodged with the Minister.

(3)  The Minister may –

(a) [Section 73 Subsection (3) amended by No. 8 of 2007, s. 4, Applied:30 Apr 2007] approve the transfer of the lease; or

(b) [Section 73 Subsection (3) amended by No. 8 of 2007, s. 4, Applied:30 Apr 2007] refuse to approve the transfer of the lease.

(4)  [Section 73 Subsection (4) substituted by No. 8 of 2007, s. 4, Applied:30 Apr 2007] However, if the lessee holds a marine farming licence authorising the lessee to carry on marine farming in respect of the lease area, the Minister is not to approve the transfer of the lease unless the Minister has already agreed to the transfer of the marine farming licence.

(5)  [Section 73 Subsection (5) amended by No. 61 of 2001, s. 39, Applied:19 Sep 2001] [Section 73 Subsection (5) substituted by No. 8 of 2007, s. 4, Applied:30 Apr 2007] If the Minister approves the transfer of the lease, it is transferred subject to the same conditions and restrictions that it was subject to immediately before the transfer unless the Minister varies them under this Part.

(6)  [Section 73 Subsection (6) amended by No. 8 of 2007, s. 4, Applied:30 Apr 2007] [Section 73 Subsection (6) amended by No. 8 of 2007, s. 4, Applied:30 Apr 2007] If the Minister approves the transfer of the lease, the Minister, by notice in writing, is to inform the lessee of the approval.