Northern Territory Numbered Acts Northern Territory Numbered Acts(1) The Commission may, by written notice, declare that a position or function with a wagering licensee is of significant influence over the business of a wagering licensee and requires a key person licence.
(2) For subsection (1), the Commission must give the notice to the wagering licensee that includes the following information:
(a) the position or function that requires a key person licence;
(b) the reason why the position or function requires a key person licence;
(c) any action the licensee is expected to take.
(3) The wagering licensee must ensure that any individual holding a position or performing a function declared under subsection (1) who does not hold a key person licence:
(a) applies for a key person licence as soon as practicable; or
(b) subject to subsection (4), ceases holding the position or performing the function.
(4) Any individual holding a position or performing a function declared under subsection (1) who does not hold a key person licence but applies for a key person licence may continue holding that position or performing the function for:
(a) 7 days from the day after the day the wagering licensee receives the notice; or
(b) if the application is made within those 7 days – until the application is determined by the Commission; or
(c) any further time allowed by the Commission.