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(1) A licence issued in respect of a tourism enterprise shall not be transferred to another enterprise.

(2) A person who transfers or attempts to transfer a licence commits an offence and is liable on summary conviction to a fine of not more than two hundred and fifty penalty units or imprisonment for a term of not more than two years or to both.

(3) Subsection (2) does not prevent a person from transferring a licence upon sale of a tourism enterprise.

(4) Due diligence shall be carried out by the Authority before a transfer is effected.