Northern Territory Numbered Acts Northern Territory Numbered Acts(1) A licensee may surrender the licence to the Commission.
(2) The surrender of a licence has no effect unless accepted by the Commission.
(3) If the surrender of a licence is accepted, a person who held the licence ceases to be a licensee, but remains liable for:
(a) any act or omission done, caused, permitted or made by the person prior to the surrender taking effect; and
(b) any liability incurred by the person under this Act prior to the surrender taking effect.