261BAASecurity may be required before transfer of authorities

#### 261BAA Security may be required before transfer of authorities 261BAA Security may be required before transfer of authorities > > (1) If a decision-maker proposes to approve a transfer of an authority that is not subject to a security deposit condition, the decision-maker may, by notice given to the proposed transferee— > > > > > (a) advise the proposed transferee that the decision-maker proposes to impose a security deposit condition when the transfer is approved, and > > > > > (b) require the proposed transferee to provide the security deposit required to be provided and maintained under the condition before the transfer of the authority is registered. > > > (2) If a decision-maker proposes to approve a transfer of an authority that is subject to a security deposit condition, the decision-maker may, by notice given to the proposed transferee, require the proposed transferee to provide the security deposit required to be provided and maintained under the condition before the transfer of the authority is registered. > > > (3) If a decision-maker requires a security deposit to be provided before a transfer of the authority is registered, the transfer of the authority must not be registered under section 122 unless the security deposit is provided. > > > (4) To avoid doubt, a decision-maker is not required under section 261G to return a security deposit to a transferor of an authority merely because the decision-maker requires or obtains a security deposit from a transferee of the authority or approves the transfer of the authority. > > > (5) Subsections (1)–(4) apply to a full or partial transfer of an authority. > > **s 261BAA:** Ins 2022 No 21, Sch 1\[98\].