Page:Casino Control Act 2006.pdf/56

56 (2) Subject to section 67(4), no person who—
 * (a) immediately before the appointed day, is a substantial shareholder of a casino operator shall continue to be such a shareholder unless he has, within 6 months after the appointed day or such longer period as the Minister may allow, applied to the Minister for approval to continue to be such a shareholder; or
 * (b) at any time before the appointed day, has entered into any agreement or arrangement referred to in subsection (1)(b) shall continue to be a party to such an agreement or arrangement unless he has, within 6 months after the appointed day or such longer period as the Minister may allow, applied to the Minister for approval to continue to be a party to such an agreement or arrangement.

Control of shareholdings and voting power in casino operator

66.—(1) No person shall, on or after the appointed day, become—
 * (a) a 12% controller;
 * (b) a 20% controller; or
 * (c) an indirect controller,

of a casino operator without first obtaining the approval of the Minister.

(2) Subject to section 67(4), no person who, immediately before the appointed day, is—
 * (a) a 12% controller;
 * (b) a 20% controller; or
 * (c) an indirect controller,

of a casino operator shall continue to be such a controller unless he has, within 6 months after the appointed day or such longer period as the Minister may allow, applied to the Minister for approval to continue to be such a controller.

(3) In subsections (1) and (2)—
 * “12% controller” means a person who, alone or together with his associates—
 * (a) holds or has interests in 12% or more but less than 20% of the total number of issued shares in a casino operator; or