Page:Casino Control Act 2006.pdf/58

58 :(b) having regard to the person’s likely influence, the casino operator will or will continue to conduct its business prudently and comply with the provisions of this Act; and
 * (c) it is in the public interest to do so.

(2) Any approval under this section may be granted to any person subject to such conditions as the Minister may determine, including but not limited to any condition—
 * (a) restricting the person’s disposal or further acquisition of shares or voting power in the casino operator; or
 * (b) restricting the person’s exercise of voting power in the casino operator.

(3) Any condition imposed under subsection (2) shall have effect notwithstanding any of the provisions of the Companies Act (Cap. 50) or anything contained in the memorandum or articles of association of the casino operator.

(4) Where the Minister disapproves an application made by any person under section 65(2) or 66(2), the person shall, within such time as the Minister may specify, take such steps as are necessary—
 * (a) in the case of section 65(2), to cease to be a substantial shareholder or a party to the agreement or arrangement, as the case may be;
 * (b) in the case of section 66(2), to cease to be —
 * (i) a 12% controller;
 * (ii) a 20% controller; or
 * (iii) an indirect controller,
 * as the case may be.

Power to exempt

68. The Minister may, by order published in the Gazette, exempt—
 * (a) any person or class of persons; or
 * (b) any class or description of shares or interests in shares,

from section 65 or 66, subject to such terms and conditions as may be specified in the order.