63Approval of transfer of retention licence

### 63 Approval of transfer of retention licence > > (1)  The Minister may – > > > > > > (a) [*\[Section 63 Subsection (1) amended by No. 24 of 2013, s. 70, Applied:28 Jun 2013\]*](/view/html/inforce/2013-06-28/act-2013-024#GS70@Hpa@EN) approve the application for the transfer of a licence; or > > > > > > > (ab) [*\[Section 63 Subsection (1) amended by No. 24 of 2013, s. 70, Applied:28 Jun 2013\]*](/view/html/inforce/2013-06-28/act-2013-024#GS70@Hpb@EN) refuse to approve the application until conditions specified by the Minister are satisfied; or > > > > > > > (b) refuse to approve the application. > > > (2)  The Minister, by notice in writing, must notify the applicant of – > > > > > > (a) the approval of the application; or > > > > > > > (ab) [*\[Section 63 Subsection (2) amended by No. 24 of 2013, s. 70, Applied:28 Jun 2013\]*](/view/html/inforce/2013-06-28/act-2013-024#GS70@Hpc@EN) the conditions, if any, that must be satisfied before the Minister will approve the transfer; or > > > > > > > (b) the refusal to approve the application and the reasons for the refusal. > > > (3)  A transfer – > > > > > > (a) is of no effect unless approved by the Minister; and > > > > > > > (b) takes effect, if approved, on the date of the approval.