Transitional provision—security deposits for existing licences
73 Transitional provision—security deposits for existing licences
For the purposes of section 5.2 (4) (f) (ii) of the Act, an existing licence is, on the transfer of the licence under section 5.27 (4) of the Act, taken to include a condition that the licence is granted to the transferee subject to payment by the transferee of any security deposit that the Minister may determine in respect of the licence.
Note.
Under section 12.15 of the Act, the Minister may remit any security deposit paid by the transferor at the time the licence was granted to the transferor.
In this clause—
existing licence means a licence that includes a condition requiring a security deposit to be paid by the licence holder that was in force immediately before the commencement of this clause.
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