Tasmanian Consolidated Acts Tasmanian Consolidated Acts
(1) A foreign games permit ceases to have effect –
(a) at the end of the period for which the permit has effect under section 77M; or
(b) when the permit is surrendered with the agreement of the Commission; or
(c) if the permit is cancelled, on the day specified in the notice of cancellation provided to the holder of the foreign games permit under section 112T(8); or
(d) 90 days after the day on which the foreign games permit holder dies, becomes bankrupt, takes or applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with creditors, makes an assignment of remuneration for the benefit of creditors, is affected by control action or becomes mentally incapable of conducting a gaming business in the opinion of the Commission unless the permit is continued under section 77S; or
(e) if the permit is continued under section 77S, at the end of the 6 month or shorter period referred to in section 77S(8).
(2) In subsection (1)(d),
"control action" means –(a) control action under the Corporations Act within the meaning of section 112S(4); and
(b) any like action under a corresponding law of another country or part of another country.