Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A transfer of an original asset or a replacement asset by any person is of no effect unless approved in writing by the Minister before the time of transfer.
(2) If a person makes a written application to the Minister for approval of a proposed transfer, the Minister must approve the transfer, unless the Minister refuses under subsection (3).
(3) The Minister may refuse to approve a transfer on any of the following grounds:
(a) the Minister has reason to believe that the transfer might jeopardise continued access by a nominated customer to a nominated service for a nominated purpose;
(b) any other prescribed ground that relates to matters covered by paragraph 51(v) of the Constitution.
(4) Application may be made to the Administrative Review Tribunal for review of a decision by the Minister under subsection (3) refusing to grant an approval.
(5) This section does not apply to assets that are exempted from the operation of this section by notice by the Minister under subsection (6).
(6) The Minister may, by legislative instrument, give a notice for the purposes of subsection (5) in relation to assets.