(1)  The holder of a lease or licence in force under section 48 may apply to the Minister for approval to transfer the lease or licence.

(2)  An application for approval to transfer a lease or licence is to be –

(a) in writing; and

(b) accompanied by any prescribed fee; and

(c) lodged with the Minister within 7 days before the transfer is to take effect.

(3)  The Minister may –

(a) approve an application, with or without conditions; or

(b) refuse to approve the application.

(4)  A transfer –

(a) is of no effect unless approved by the Minister; and

(b) if approved, takes effect on the date of the approval.