Page:Casino Control Act 2006.pdf/34

34 :(a) any contract entered into with a casino operator or his agent for the playing in the casino of a game that is conducted by or on behalf of the casino operator or his agent, as the case may be, at any time while the casino licence is in force;
 * (b) any contract entered into with a casino operator or his agent for the use of a gaming machine in the casino, at any time while the casino licence is in force; and
 * (c) any contract for any transaction permitted under section 108, at any time while the casino licence is in force.

Two casinos only

41.—(1) The Authority shall, during the period of 10 years commencing from the date on which a second site for a casino is designated by an order made under section 2(2), ensure that there are not more than 2 casino licences in force under this Act at any particular time.

(2) A casino licence is to apply to one casino only.

Main shareholder of casino operator not to divest stake or participate in other casino for certain period

42.—(1) During the period of 10 years commencing from the date on which a second site for a casino is designated by an order made under section 2(2)—
 * (a) the main shareholder of a casino operator shall not, without the prior written approval of the Authority, transfer or dispose of any part of his stake in the casino operator to the extent that after the transfer or disposal, the percentage of the total votes attached to his stake in the casino operator—
 * (i) is less than 20% of the total votes attached to all voting shares in the casino operator; or
 * (ii) is equal to or less than the percentage of the total votes attached to the stake of any other stakeholder in the casino operator; and
 * (b) no person other than the main shareholder of a casino operator shall, without the prior written approval of the Authority, acquire any stake in the casino operator to the extent that after the