Singapore legislation
Clause 59
Clause 59
Restriction on transfer and surrender of licence
(1)
A licence, and any rights, benefits or privileges under the licence, are not transferable or assignable to any other person unless —
the licence contains a condition authorising the transfer or assignment; and
the Authority consents in writing to the transfer or assignment.
(2)
Any consent under subsection (1) may be given subject to compliance with such conditions as the Authority thinks fit to impose, which may include conditions modifying, or requiring or otherwise providing for the making of modifications to, the conditions of the licence; but section 58(2), (3) and (4) does not apply to or in relation to these modifications to the conditions of the licence.
(3)
A transfer or an assignment, or purported transfer or assignment, of a licence, or of any rights, benefits or privileges under the licence, is void and of no effect —
if the licence is not capable of transfer or assignment;
if the transfer or assignment, or purported transfer or assignment, is in breach of a condition of the licence; or
if there has, before the transfer or assignment or purported transfer or assignment, been a contravention of a condition subject to compliance with which the consent required by subsection (1) is given.
(4)
Every licence is not capable of being surrendered without the written consent of the Authority, and any surrender or purported surrender of a licence is void if it is without such consent.