Victorian Current Acts Victorian Current Acts(1) The licence holder and another person (the transferee ) may jointly apply to the Regulator for the licence to be transferred from the licence holder to the transferee.
(2) The application must be in writing, and must contain—
(a) such information as is prescribed by the regulations (if any); and
(b) such information as is specified in writing by the Regulator.
(3) The Regulator must not transfer the licence unless the Regulator is satisfied that, if the licence is transferred, any risks posed by the dealings authorised by the licence will continue to be able to be managed in such a way as to protect—
(a) the health and safety of people; and
(b) the environment.
(4) The Regulator must not transfer the licence unless the Regulator is satisfied that the transferee is a suitable person to hold the licence.
(5) The Regulator must give written notice of his or her decision on the application to the licence holder and the transferee.
(6) If the Regulator decides to transfer the licence—
(a) the transfer takes effect on the date specified in the notice; and
(b) the licence continues in force as mentioned in section 60; and
(c) the licence is subject to the same conditions as those in force immediately before the transfer.