sec.96Giving effect to transfer

### sec.96 Giving effect to transfer This section applies if— the chief executive approves the transfer; and the fee prescribed under a regulation for amending a commercial activity agreement to give effect to the transfer has been paid; and if the buyer has to enter into a commercial activity agreement with the chief executive—the fee prescribed under a regulation for an application for the commercial activity agreement has been paid; and all fees payable by the seller under the seller’s commercial activity agreement have been paid. If the seller transfers all of the authorisation under the agreement, the chief executive must give effect to the transfer by cancelling the seller’s agreement and— if the buyer is the other party to another commercial activity agreement—amending the other agreement to reflect the transfer; or if the buyer is not the other party to another commercial activity agreement—entering into, with the buyer, a commercial activity agreement for conducting the commercial activity the subject of the authorisation. If the seller transfers only part of the authorisation under the agreement, the chief executive must give effect to the transfer by amending the seller’s commercial activity agreement to reflect the transfer and— if the buyer is the other party to another commercial activity agreement—amending the other agreement to reflect the transfer; or if the buyer is not the other party to another commercial activity agreement—entering into, with the buyer, a commercial activity agreement for the conducting of the commercial activity the subject of the authorisation. (sec.96-ssec.1) This section applies if— the chief executive approves the transfer; and the fee prescribed under a regulation for amending a commercial activity agreement to give effect to the transfer has been paid; and if the buyer has to enter into a commercial activity agreement with the chief executive—the fee prescribed under a regulation for an application for the commercial activity agreement has been paid; and all fees payable by the seller under the seller’s commercial activity agreement have been paid. (sec.96-ssec.2) If the seller transfers all of the authorisation under the agreement, the chief executive must give effect to the transfer by cancelling the seller’s agreement and— if the buyer is the other party to another commercial activity agreement—amending the other agreement to reflect the transfer; or if the buyer is not the other party to another commercial activity agreement—entering into, with the buyer, a commercial activity agreement for conducting the commercial activity the subject of the authorisation. (sec.96-ssec.3) If the seller transfers only part of the authorisation under the agreement, the chief executive must give effect to the transfer by amending the seller’s commercial activity agreement to reflect the transfer and— if the buyer is the other party to another commercial activity agreement—amending the other agreement to reflect the transfer; or if the buyer is not the other party to another commercial activity agreement—entering into, with the buyer, a commercial activity agreement for the conducting of the commercial activity the subject of the authorisation. - (a) the chief executive approves the transfer; and - (b) the fee prescribed under a regulation for amending a commercial activity agreement to give effect to the transfer has been paid; and - (c) if the buyer has to enter into a commercial activity agreement with the chief executive—the fee prescribed under a regulation for an application for the commercial activity agreement has been paid; and - (d) all fees payable by the seller under the seller’s commercial activity agreement have been paid. - (a) if the buyer is the other party to another commercial activity agreement—amending the other agreement to reflect the transfer; or - (b) if the buyer is not the other party to another commercial activity agreement—entering into, with the buyer, a commercial activity agreement for conducting the commercial activity the subject of the authorisation. - (a) if the buyer is the other party to another commercial activity agreement—amending the other agreement to reflect the transfer; or - (b) if the buyer is not the other party to another commercial activity agreement—entering into, with the buyer, a commercial activity agreement for the conducting of the commercial activity the subject of the authorisation.