55 Change of purpose and winding up provisions of holder of class 4 operator’s licence ineffective without approval

(1)

A corporate society holding a class 4 operator’s licence must obtain the approval of the Secretary before it changes a provision in its governing document that may have the effect of altering—

(a)

the corporate society’s status as an entity established and conducted entirely for non-commercial purposes; or

(b)

the distribution of its assets on winding up; or

(c)

its objects so that it is no longer capable of applying or distributing net proceeds from the class 4 gambling to or for authorised purposes.

(2)

If a governing document is changed with an effect described in subsection (1) without the approval of the Secretary, the change may be ignored by the Minister, the Secretary, the Gambling Commission, or the Department in applying this Act.