Document ID: chunk:federal_register_of_legislation:C2024C00638:section:151
Version: federal_register_of_legislation:C2024C00638
Segment Type: section
Provision Reference: s 151
Character Range: 164936–166089

151  Acceptance of grant of retention licence
 (1) The provisional grant of a retention licence is properly accepted by the provisional holder if, before the end of the primary payment period, the provisional holder:
 (a) gives the Designated Authority a written acceptance of the grant; and
 (b) lodges any security for the licence required by the Joint Authority under section 399; and
 (c) pays the fees that must be paid for the licence under the Retention Licence Fees Act.
 (2) A retention licence provisionally granted under section 143 or 144 is properly accepted by the provisional holder if the provisional holder:
 (a) has been granted an extension of the primary payment period under section 150; and
 (b) before the end of the secondary payment period:
 (i) gives the Designated Authority a written acceptance of the grant; and
 (ii) lodges any security required by the Joint Authority under section 399; and
 (iii) pays the fees that must be paid for the licence under the Retention Licence Fees Act.
Note: Under section 154, the grant of the licence cannot be effective before the grant is registered (see section 333 for registration).