122Registration of transfers

#### 122 Registration of transfers 122 Registration of transfers > > (1) If the transfer of an authority has been approved, the transferor or transferee of the authority may, within 3 months after being notified of the approval, apply for registration of the transfer. > > > (2) Any such application must be— > > > > > (a) lodged with the Secretary, and > > > > > (b) accompanied by the application fee prescribed by the regulations, and > > > > > (c) accompanied by evidence that any security deposit required to be provided under section 261BAA has been provided. > > > (3) On receipt of an application that complies with subsection (2), the Secretary must register the transferee as the holder of the authority or, for a partial transfer, the new authority, unless— > > > > > (a) registration is prohibited by section 124 or 292YC, or > > > > > (b) any unpaid amounts specified in a notice given under section 121(7A) in relation to the transfer remain unpaid. > > > (4) On registration of a full transfer the transferee becomes the holder of the authority and any variation of the authority under this Division takes effect. > > > (5) On registration of a partial transfer— > > > > > (a) the original authority is taken to have been cancelled as to the area of the part transferred, and > > > > > (b) an authority over the part transferred is taken to have been granted to the transferee for the period from the date of registration until the date on which the original authority is due to expire and subject to the conditions determined under this Division, and > > > > > (c) the transferee becomes the holder of the new authority, and > > > > > (d) any variation of the original authority under this Division takes effect. > > > (6) An approval of a transfer of an authority lapses if— > > > > > (a) an application for registration of the transfer under this section has not been made within 3 months after the transferor and transferee of the authority were notified of the approval, or > > > > > (b) any unpaid amounts specified in a notice given under section 121(7A) in relation to the transfer remain unpaid— > > > > > > > (i) 3 months after the date on which the transferor and transferee of the authority were notified of the approval, or > > > > > > > (ii) by a later date approved by the Secretary. > > **s 122:** Am 1996 No 137, Sch 1 \[15\]. Subst 2008 No 19, Sch 1 \[85\]. Am 2015 No 40, Sch 1 \[48\]–\[50\]; 2022 No 21, Sch 1\[43\]–\[45\]; 2025 No 37, Sch 3\[2\] \[3\].