Transitional provision relating to security plans for possession licensees
232 Transitional provision relating to security plans for possession licensees
This section applies to a possession licensee who, at the commencement, is in possession of a security enhanced source under the licensee’s licence (the existing licence).
The provisions of this Act relating to security plans do not apply to the possession licensee’s existing licence while it remains in force during the transitional period.
However, the provisions of the Act relating to security plans apply to the existing licence if it is renewed during the transitional period.
The possession licensee may, within the transitional period, apply to have a new possession licence issued by the chief executive.
The licensee’s existing licence expires on the earliest of the following—
the expiry of the existing licence;
the issue of a new licence to the licensee;
the end of the transitional period.
Subsection (5) applies subject to section 81.
This Act’s bill:Explanatory memorandum
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