Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a licence if:
(a) there is a management plan for the licence; and
(b) an application has been made under section 69 for the licence to be transferred from the licence holder (the transferor ) to another eligible person (the transferee ); and
(c) any of the following apply:
(i) the Minister is considering whether to transfer the licence;
(ii) the Minister has decided to transfer the licence;
(iii) the transfer has occurred.
(2) The licensing scheme may require both:
(a) the transferor; and
(b) the transferee;
to comply with sections 117 and 118 (financial security) in relation to the licence.
(3) The licensing scheme may provide for the transferor's obligations under sections 117 and 118:
(a) to cease, in whole or part, after the transferee has complied with equivalent obligations; or
(b) to continue, in whole or part, for any period during which the licence remains in force (including as a result of an extension of the end day of the licence under this Chapter).