§ 16 — Restriction on transfer of licence

16.—(1) A licence, and any rights, benefits or privileges under the licence, are not transferable or assignable to any other person unless —(a)

the licence contains a condition authorising the transfer or assignment; and

(b)

the Director-General consents in writing to the transfer or assignment.[Act 11 of 2023 wef 01/05/2023]

(2) Any consent under subsection (1) may be given subject to compliance with any conditions that the Director-General thinks fit to impose, which may include conditions modifying, or requiring or otherwise providing for the making of modifications to, the conditions of the licence, but section 14(2), (3) and (4) does not apply to or in relation to these modifications to the conditions of the licence.[Act 11 of 2023 wef 01/05/2023]

(3) A transfer or an assignment, or a purported transfer or assignment, of a licence, or of any rights, benefits or privileges under the licence, is void and of no effect —(a)

if the licence is not capable of transfer or assignment;

(b)

if the transfer or assignment, or purported transfer or assignment, is in breach of a condition of the licence; or

(c)

if there has, before the transfer or assignment or purported transfer or assignment, been a contravention of a condition subject to compliance with which the consent required by subsection (1) is given.

—(1) A licence, and any rights, benefits or privileges under the licence, are not transferable or assignable to any other person unless —(a)

the licence contains a condition authorising the transfer or assignment; and

(b)

the Director-General consents in writing to the transfer or assignment.[Act 11 of 2023 wef 01/05/2023]

(2) Any consent under subsection (1) may be given subject to compliance with any conditions that the Director-General thinks fit to impose, which may include conditions modifying, or requiring or otherwise providing for the making of modifications to, the conditions of the licence, but section 14(2), (3) and (4) does not apply to or in relation to these modifications to the conditions of the licence.[Act 11 of 2023 wef 01/05/2023]

(3) A transfer or an assignment, or a purported transfer or assignment, of a licence, or of any rights, benefits or privileges under the licence, is void and of no effect —(a)

if the licence is not capable of transfer or assignment;

(b)

if the transfer or assignment, or purported transfer or assignment, is in breach of a condition of the licence; or

(c)

if there has, before the transfer or assignment or purported transfer or assignment, been a contravention of a condition subject to compliance with which the consent required by subsection (1) is given.