70Minister may transfer licence

70 Minister may transfer licence

(1) The Minister may transfer a licence held by a licence holder (the transferor) to an eligible person (the transferee) if: (a) an application for the transfer is made under section 69; and (b) the Minister is satisfied that the licence would meet the merit criteria if it were held by the transferee; and (c) the Minister is satisfied that the transferee will be able to comply with sections 117 and 118 (financial security), subject to section 72, in relation to the licence; and (d) any other requirements prescribed by the licensing scheme are satisfied.

Note: For review of decisions, see section 297.

(2) The Minister must give written notice of a decision under subsection (1) to the transferor and the transferee. (3) A transfer of a licence takes effect at the time specified in the notice under subsection (2). At that time: (a) the transferor ceases to be the holder of the licence; and (b) the transferee begins to be the holder of the licence.