Cap. 438 Art. 29Grant of National lottery licence.

(1) The Authority, and for the first time after the entry into force of this Part the Minister, shall not issue a National Lottery licence to a person unless such person is a company registered in

Malta the main object of which is the operation of the National Lottery pursuant to a National Lottery licence under this Act and the doing of all such other things as are incidental or conducive to the attainment of such object and the carrying out of other activities as may be authorised in the licence by the Authority and, for the first time after the entry into force of this Part, by the Minister, and unless the Authority or, as the case may be, the Minister is satisfied that -

(a) all persons holding or owning a qualifying shareholding in the company are fit and proper to benefit from the operation by the company of the National Lottery and to exercise their rights of membership in such manner as to ensure the proper operation by the company of the National Lottery;

(b) the director or directors of the company are fit and proper to manage the affairs of the company and to exercise their functions and duties as directors in such manner as to ensure the proper operation by the company of the National Lottery;

(c) all persons who appear to the Authority to be likely to manage the business or any part of the business of the operation of the National Lottery are fit and proper persons to do so;

(d) the company has, or will have upon the issue of the licence, the financial and technical means and the expertise necessary to properly operate the National Lottery and to fulfil all its obligations under this Act;

(e) the company will take out, within seven days from the date of issue of the licence, and will thereafter maintain, the bank guarantee referred to in article 31(5) as provided and in accordance with the said the provisions of this Act and of any regulations made thereunder and applicable to it and with the terms and conditions of the licence and with directives issued by the Authority in terms of this Act or of regulations made thereunder and applicable to it.

(2) When the Authority, and for the first time after the entry into force of this Part the Minister, makes a preliminary decision to issue a National Lottery licence to a particular company registered in Malta, the Authority or, as the case may be, the Minister shall, before the issue of such licence, cause a notice to be published in the Gazette of the intended issue of the said licence, thereby calling upon any interested party to make representations, if any, objecting to the issue of the licence to such company.

(3) Such objection as is mentioned in subarticle (2) shall be in writing and shall contain a reasoned justification therefor, and is to be received by the Authority or the Minister, as the case may be, within twenty-one days from the date of the publication of the notice in the Gazette.

(4) The Authority or the Minister, as the case may be, shall consider any objection made and received by it as aforesaid before making any final decision as to the issue of the licence.

(5) The grant of a National Lottery licence shall not exonerate the licensee from obtaining any other licence, permit or authorization which may be required under any other law.