Notification of change relating to holder of material interest in pharmacy business or director of licence holder
79 Notification of change relating to holder of material interest in pharmacy business or director of licence holder
This section applies if a holder of a pharmacy business licence becomes aware of—
a change in the number or type of shares a person holds in the holder; or
a change in a person’s material interest in the pharmacy business to which the licence relates, including, for example, a person acquiring a new material interest in the pharmacy business or disposing of the person’s material interest in the pharmacy business; or
a change of a director of a holder of the licence.
The holder of the pharmacy business licence must, unless the holder has a reasonable excuse, give the council notice of the change—
in the approved form; and
within 14 days after becoming aware of the change.
Maximum penalty—50 penalty units.
Note—
If a corporation commits an offence against this provision, an executive officer of the corporation may be taken, under section 203, to have also committed the offence.
Subsection (2) does not apply in relation to a change mentioned in subsection (1)(b) or (c) if the holder of the pharmacy business licence makes an application under section 53 in relation to the change within the 14 day period mentioned in subsection (2).
This Act’s bill:Explanatory memorandumSecond reading speech
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