Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A casino licensee
may create a mortgage, charge or other encumbrance over —
(a) its
casino gaming licence;
(b) the
whole or any part of the premises of the casino complex concerned, including
the premises of the licensed casino to which its casino gaming licence
relates; or
(c) its
rights and benefits under the relevant casino complex agreement,
with the prior consent
of, and in favour of a person approved by, the Minister on the recommendation
of the Commission and not otherwise.
(1a) A casino licensee
shall not dispose of any part of the relevant casino complex to another person
unless the other person is approved by the Minister on the recommendation of
the Commission.
(1b) The Minister may,
on the disposition of part of a casino complex to a person approved under
subsection (1a) —
(a)
release the relevant casino licensee from its obligations under the relevant
casino complex agreement in respect of that part; and
(b) by
order declare that —
(i)
the relevant casino complex agreement does not apply to
that part; and
(ii)
that part ceases to form part of the casino complex,
which order has effect
according to its tenor.
(1c) An order made
under subsection (1b) is subsidiary legislation within the meaning of the
Interpretation Act 1984 .
(2) A casino licensee
shall not assign its casino gaming licence or any rights, benefits or
obligations under the relevant casino complex agreement to another person
unless the other person is approved by the Minister on the recommendation of
the Commission.
(3) An administrator
shall not assign any rights, benefits or obligations under the relevant casino
complex agreement, if any, to another person unless the other person is
approved by the Minister on the recommendation of the Commission.
(4) If a mortgagee
wishes to enforce his security under a mortgage, charge or other
encumbrance —
(a) any
receiver appointed thereunder shall be; and
(b) the
casino gaming licence concerned and any rights, benefits or obligations under
a casino complex agreement shall be assigned only to,
a person approved by
the Minister on the recommendation of the Commission.
(5) The Minister may
at the request of a mortgagee approve a receiver for the purpose of
subsection (4)(a) in advance of his appointment under the relevant
mortgage, charge or other encumbrance.
(6) The Minister may
refuse to approve a person (in this subsection called the proposed assignee )
for the purpose of subsection (2), (3) or (4)(b) until —
(a) the
proposed assignee enters into an agreement with the Minister; and,
additionally or alternatively,
(b)
another person with whom the Minister considers that he should enter into an
agreement in connection with the assignment of a casino gaming licence to the
proposed assignee (in this subsection called the proposed assignment ) enters
into such an agreement with the Minister,
containing such terms
and conditions with respect to the proposed assignment and the proposed
assignee as the Minister approves on the recommendation of the Commission.
(7) A mortgage, charge
or other encumbrance or any disposition or any assignment referred to in this
section or any sale or lease made by the mortgagee or assignor or
administrator shall be invalid unless approved beforehand by the Minister on
the recommendation of the Commission.
(8) In this
section —
dispose of includes dispose of any estate or
interest by sale, assignment, transfer, lease or licence;
receiver means receiver or receiver and manager,
according to the nature of the appointment concerned.
[Section 21F inserted by No. 10 of 1985
s. 31; amended by No. 44 of 1987 s. 13; No. 74 of 1987
s. 25.]