Authorised Betting Operations Act 2000

This section applies to a transaction if it is a transaction (other than one for which the Commissioner's approval is required under this Division) under which a person or a group of persons who are close associates of each other attain a position of control or significant influence over the conduct of a licensee.

Within 14 days after a licensee becomes aware of a transaction to which this section applies, the licensee must—

inform the Commissioner of the transaction; and

provide any information about the transaction that is available to the licensee. Maximum penalty: Maximum penalty: $50 000.

If a licensee is a party to a transaction to which this section applies, and the transaction takes effect before the Commissioner approves it, the licensee is liable to disciplinary action.

If a transaction to which this section applies has not been approved or ratified by the Commissioner, the Commissioner may, after allowing the parties to the transaction a reasonable opportunity to be heard, make orders of one or more of the following kinds:

an order avoiding the transaction;

an order requiring a person who has acquired an interest under the transaction to dispose of that interest within a specified time;

an order terminating a contractual or other relationship under which control or influence might be exercised over the licensee;

an order preventing or regulating the exercise of power or influence acquired as a result of the transaction;

an order (which may include an order for restitution) dealing with any consequential or ancillary issues.

The Supreme Court may, if satisfied on application by the