Casino Control Act 2006 · 2020 Revised Edition · Part 4 · Supervision and Control of Casino Operators
70. Power to make directions
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Without prejudice to section 71, if the Authority is satisfied that any person has contravened section 65, 66, 67(4) or 69(5) or has failed to comply with any condition imposed under section 67(2), or if the Authority has served a written notice of objection under section 69, the Authority may, by written notice —
direct the transfer or disposal of all or any of the shares in the casino operator held by the person or any of the person’s associates (called in this section the specified shares) within such time or subject to such conditions as the Authority considers appropriate;
restrict the transfer or disposal of the specified shares; or
make any other direction that the Authority considers appropriate.
Any person to whom a notice is given under subsection (1) must comply with such direction or directions as may be specified in the notice.
In the case of any direction made under subsection (1)(a) or (b), until a transfer or disposal is effected in accordance with the direction or until the restriction on the transfer or disposal is removed (as the case may be), despite any of the provisions of the Companies Act 1967 or anything contained in the memorandum or articles of association of the casino operator —
casino operator
“casino operator” means a person who is the holder of a casino licence;
no voting rights are exercisable in respect of the specified shares unless the Authority expressly permits such rights to be exercised;
no shares of the casino operator may be issued or offered (whether by way of rights, bonus or otherwise) in respect of the specified shares unless the Authority expressly permits such issue or offer; and
except in a liquidation of the casino operator, no payment may be made by the casino operator of any amount (whether by way of dividends or otherwise) in respect of the specified shares unless the Authority expressly permits such payment.