(1) No person shall operate a casino except in accordance with a casino licence granted by the Commissioner with the approval of the National Redemption Council.

(2) A casino licence shall only be granted to a company formed for the purpose of operating a casino under this Decree, and such purpose shall not be deemed to be an illegal object of the company: but nothing in this subsection shall authorize the inclusion of the word "casino" as part of the name of the company.

(3) A casino licence may be granted for a period of one year upon the payment of a fee of ¢5 million;

(4) A casino licence may be renewed for a period of one year upon the payment of a renewal fee of ¢2 million and on such other terms and conditions as the Minister may determine"; and [As substituted by The Casino Licensing (Amendment) Act, 2001 (Act 607) s.1(a) ] subject to such terms and conditions as the National Redemption Council may think fit to impose.