45Approval and registration of instruments creating etc interests

#### 45 Approval and registration of instruments creating etc interests 45 Approval and registration of instruments creating etc interests > > (1) This section applies to an instrument by which a legal or equitable interest affecting an existing or future licence is or may be created, assigned, affected or dealt with, whether directly or indirectly, not being an instrument of transfer to which section 42 applies. > > > (2) An instrument to which this section refers is of no force until— > > > > > (a) the instrument has been approved by the Minister, and > > > > > (b) an entry of the approval of the instrument has been made in the register in accordance with subsection (7). > > > (3) A party to an instrument to which this section applies, or a person having an interest in or in relation to a licence by reason of such an instrument, may lodge with the Minister an application for approval of the instrument. > > > (4) An application shall be accompanied by— > > > > > (a) the original instrument and a copy of the instrument, and > > > > > (b) in the case of a prescribed instrument or an instrument of a prescribed kind, particulars of— > > > > > > > (i) the technical qualifications of each of the persons having an interest in the licence by reason of the instrument, > > > > > > > (ii) the technical advice available to each of those persons, and > > > > > > > (iii) the financial resources available to each of those persons. > > > (5) On receipt of the application, the Secretary shall cause to be entered in the register a memorandum of the date on which the application was lodged with the Minister and shall make such other notations in the register as the Secretary thinks fit. > > > (6) The Minister may approve or refuse the application. > > > (7) If the Minister approves the application, the Secretary shall forthwith cause to be endorsed on the original instrument and on the copy a memorandum of approval and, on payment of the prescribed fee, cause an entry of the approval of the instrument to be made in the register on the memorial relating to, or a copy of, the licence to which the instrument relates. > > > (8) The copy of the instrument endorsed with the memorandum of approval shall be retained by the Secretary and is subject to inspection in accordance with this Part. > > > (9) The original instrument endorsed with the memorandum of approval shall be returned to the person who lodged the application for approval. > > > (10) If the Minister refuses the application, the Secretary shall cause a notation of the refusal to be made in the register. > > **s 45:** Am 1977 No 17, Sch 1; 1985 No 217, Schs 1 (7), 2 (20); 2006 No 35, Sch 1 \[99\]–\[101\].