Cap. 590 Art. 20Assignment and transferability.

A licence granted by the competent authority under this

Act or a qualifying holding or beneficial ownership in a licence holder may not be assigned or transferred in any way whatsoever to any other person without the prior written consent of the competent authority, and any such assignment or transfer to any other person without the competent authority’s consent shall be considered null and void and constitute sufficient grounds for the competent authority to cancel that licence.