Dealings affecting licensed business
17 Dealings affecting licensed business
A licensee must not enter into any of the following transactions without the approval of the Commissioner:
a partnership agreement that relates to betting operations conducted or to be conducted under the licence;
an agreement or arrangement under which the licensee conducts or is to conduct betting operations under the licence jointly with another or as the agent of another;
an agreement or arrangement under which a person participates in, or is remunerated by reference to, proceeds or profits of the business conducted or to be conducted under the licence;
a transaction to mortgage, charge or encumber the licence or assets associated with operations under the licence;
an agreement or arrangement under which the licensee disposes of, or grants an interest in, the business conducted under the licence.
This section does not invalidate an agreement or arrangement made subject to a condition precedent under which it is not to take effect until approved by the Commissioner.
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