53Change of licensee, permit holder, or authorisation holder requires approval of Minister

1. A licensee, permit holder, or authorisation holder must not, without the prior approval of the Minister,—

2. transfer an interest in a licence, permit, or authorisation; or
3. if the licensee, permit holder, or authorisation holder is a body corporate, undergo a change of control.

4. A licensee, permit holder, or authorisation holder may apply to the Minister for approval of a transfer or change of control.

5. The application—

6. must be made in accordance with prescribed requirements; and
7. in the case of a GBSI activity authorisation, must include a declaration under section 49B(3) by the applicant or, in the case of a transfer, by the person who will be the authorisation holder following the transfer, as if the application were an application for a new GBSI activity authorisation.

8. When considering an application of a licensee, permit holder, or authorisation holder to undergo a change of control or to transfer an interest in a licence, permit, or authorisation, the Minister—

9. in the case of a launch licence, payload permit, overseas launch licence, overseas payload permit, facility licence, or high-altitude licence, must consult the security Ministers in accordance with section 55; and
10. in the case of a GBSI activity authorisation, may consult the intelligence and security agencies about—
    1. any risks to national security of the proposed transfer or change of control; and
    2. the extent to which the risks can be mitigated by authorisation conditions; and
11. must take into account,—
    1. in the case of a launch licence, all the matters in section 9 as if the application were an application for a new launch licence; and
    2. in the case of a payload permit, all the matters in section 17 as if the application were an application for a new payload permit; and
    3. in the case of an overseas launch licence, all the matters in section 25 as if the application were an application for a new overseas launch licence; and
    4. in the case of an overseas payload permit, all the matters in section 33 as if the application were an application for a new overseas payload permit; and
    5. in the case of a facility licence, all the matters in section 40 as if the application were an application for a new facility licence; and
    6. in the case of a high-altitude licence, all the matters in section 47 as if the application were an application for a new high-altitude licence; and
    7. in the case of a GBSI activity authorisation, all the matters in section 49C as if the application were an application for a new GBSI activity authorisation (and for that purpose the reference in section 49C(1)(a) to prescribed requirements must be treated as a reference to the prescribed requirements referred to in subsection (3)(a) of this section); and
12. must be satisfied that the licensee, permit holder, or authorisation holder following the transfer or change of control is likely to be able to comply with the conditions of, and give proper effect to, the licence, permit, or authorisation; and
13. may ask an applicant to supply any further information or documentation in support of the application.

14. In the case of a launch licence, payload permit, overseas launch licence, overseas payload permit, facility licence, or high-altitude licence, the Minister must not consent to a transfer or change of control if a certificate is issued under section 55 in relation to the proposed transfer or change of control.

15. For the purposes of this section, a body corporate undergoes a change of control if—

16. a person obtains the power (whether directly or indirectly) to exercise, or control the exercise of, 50% or more of the voting rights in the corporate body; or
17. a person (person A) obtains, together with 1 or more specified persons, the power (whether directly or indirectly) to exercise, or control the exercise of, 50% or more of the voting rights in the corporate body.

18. In subsection (6)(b), a specified person, in relation to person A, means—

19. a person who is acting, or will act, jointly or in concert with person A in respect of exercising, or controlling the exercise of, the voting rights of the licensee, permit holder, or authorisation holder; or
20. a person who acts, or is accustomed to acting, in accordance with the wishes of person A.