(1) If an area permit
is held by the owner of the land to which the permit relates and the interest
by reason of which that person is the owner (the interest ) is or is to be
transferred, or passes or is to pass, to another person (the new owner ), the
new owner may, in the form and in the manner approved by the CEO, notify the
CEO —
(a) that
the transfer or passing of the interest has occurred or is to occur; and
(b) that
the new owner wishes to become the holder of the permit.
(2) If notification is
given to the CEO under subsection (1) then —
(a) on
the transfer or passing of the interest; or
(b) on
the receipt of the notification by the CEO,
whichever is later,
the new owner becomes the holder of the area permit by operation of this
section on the conditions to which the permit is subject.
(3) If when the
interest is transferred or passes the CEO has not received notification under
subsection (1), the area permit has no further effect unless and until such
notification is received.
[Section 51N inserted: No. 54 of 2003 s. 110(1).]