Queensland Consolidated Acts Queensland Consolidated Acts(1) A primary licensee must not mortgage, charge or otherwise encumber the licence except with the written approval of the Minister.
(2) If a person has a right to sell and transfer a primary licence under or because of a mortgage, charge or encumbrance, the licence may only be sold and transferred to a person approved by the Minister.
(3) Before the Minister approves the transfer of a primary licence under this section, the Minister must be satisfied—
(a) the proposed transferee is a suitable person to hold a licence of the relevant type; and
(b) each business and executive associate of the proposed transferee is a suitable person to be associated with the operations of the holder of a licence of the relevant type.
(4) The Minister may require the proposed transferee of the primary licence to submit an application for the licence and may deal with the application, and investigate the suitability of the proposed transferee and the proposed transferee's business and executive associates, in the same way as if the application were an application for a new primary licence of the relevant type.
(5) If a person has, under or because of, a mortgage, charge or encumbrance, a power to appoint a receiver or manager of the business conducted under a primary licence, the power may only be exercised if the Minister first approves the proposed receiver or manager in writing.
(6) Before transferring a primary licence, the primary licensee must give written notice of the proposed transfer to each other person with whom the primary licensee has a lottery operation agreement.