Document ID: chunk:federal_register_of_legislation:F2024C01022:reg:123
Version: federal_register_of_legislation:F2024C01022
Segment Type: reg
Provision Reference: reg 123
Character Range: 203224–205257

123  Approval of transfer
 (1) The Authority must, in writing given to the transferor and the proposed transferee, approve or refuse the transfer of the permission before the end of 20 business days after:
 (a) receiving the application; or
 (b) if the application is incomplete and a notice was given to the transferor under subsection 119(4)—the matters specified in the notice have been dealt with before the end of the period specified in subsection 119(5); or
 (c) if the Authority has requested additional information or documents under section 121—the Authority receives the additional information or documents in accordance with that section.
 (2) The Authority must not approve a transfer unless any fee payable under section 205 has been paid.
 (3) If the Authority approves the transfer, it must issue the transferee a permission (the new permission) that has the same effect and the same conditions as the permission held by the transferor, unless otherwise agreed by the transferee.
 (4) Despite subsection (3), the new permission may include any of the following conditions:
 (a) a condition requiring the provision of a security by way of a bond, guarantee or cash deposit;
 (b) a condition requiring the permission holder to pay the Authority's reasonable costs associated with inspections and supervision in relation to any conduct that is permitted by the permission;
 (c) a condition requiring the permission holder to indemnify the Authority in respect of costs to the Authority that the permission holder's activities may incur (including costs that may be incurred under section 61A of the Act);
 (d) a condition requiring the permission holder to insure against any specified liability of the holder to the Authority for measures taken by the Authority to repair and mitigate damage to the Marine Park caused by the permission holder's activities or contravention of the Act or this instrument.
 (5) The permission held by the transferor is cancelled at the time the transferee is granted the new permission.