No proprietary right in wagering licence
10F No proprietary right in wagering licence
A wagering licence does not confer a right of property and is incapable of being assigned or mortgaged, charged or otherwise encumbered.
In accordance with paragraph (d) of the definition of licence in the Personal Property Securities Act 2009 (Commonwealth) section 10, a wagering licence is declared not to be personal property for the purposes of that Act.
Nothing in this section prevents a wagering licensee from conducting activities authorised by the wagering licence in the course of a joint venture or other arrangement to which the wagering licensee is a party.
This Act’s bill:Explanatory memorandumSecond reading speech
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