Registration of Financial Interests – Fast facts

Home/QLD/Registration of Financial Interests – Fast facts

Registration of Financial Interests – Fast facts

  • Cost: $89.00
  • It is a mandatory requirement to register a an owner,
    lessee, lessor and/or mortgagee of a licensed premises
    as per section 44A(2) of the Liquor Act 1992. Likewise,
    a registered interest must notify the Office of Liquor and
    Gaming Regulation if the entity ceases to hold interest in
    the licensed premises.
  • If the entity being registered is not the licensee, they are
    not liable under the Liquor Act 1992 for compliance
    related matter regarding the operation of the licensed
  • The purpose of registering a financial interest of the
    freehold owner / mortgagee or head lessor is to protect
    the interests of the entity. A liquor licence is an asset
    attaching to the land, and therefore a tenant cannot take
    the liquor licence away from the land. Likewise, whilst a
    tenant can apply for a liquor licence a tenant cannot
    surrender a liquor licence without consent from the
    freehold owner or head lessor.

Liquor Act 1992
44A Owner, lessee, mortgagee and secured creditors to give
particulars to commissioner
(1) This section applies to—
(a) an owner, lessee and mortgagee of licensed
premises; and
(b) a secured creditor of the licensee whose interest
is likely to be affected by cancellation of the licence
for the premises.
(2) The persons mentioned in subsection (1) must give the
commissioner particulars sufficient to identify their interest in
the licence within 28 days of—
(a) acquiring the interest; or
(b) if the person holds the interest at the time the
licence is granted—the granting of the licence.
(3) A person who has given particulars under subsection (2) of
the person’s interest in a licence must give the commissioner
notice that the person no longer holds the interest within 28
days of ceasing to hold the interest.
Maximum penalty for subsection (3)—1 penalty unit.
The penalty unit value in Queensland is $121.90 (current from
1 July 2016).

By |June 20th, 2018|Categories: QLD|0 Comments

About the Author: