Cap. 409 Art. 30Transfer of licence.

(1) A licence to carry on the business of an incoming tourism agency, or a travel agency or of a destination management company may, with the consent in writing of the Authority previously obtained, be transferred to any person who fulfils the requirements of article 28.

(2) An incoming tourism agent and a travel agent and a destination management company shall exhibit his or its licence in a prominent place in his or its place of business. If an incoming tourism agent or a travel agent or a destination management company operates from more than one place of business his or its licence shall be exhibited in his or its principal place of business and a copy or copies of his or its licence, issued and certified as such by the Minister on payment of the prescribed fee, shall likewise be exhibited in all his or its places of business other than his or its principal place of business. liability insurance and, in addition, or if required by the Authority, a policy of professional indemnity insurance, which policy or policies shall indemnify it, and any person employed by it, or otherwise acting for it, to such amount, in such manner and in respect of such matters as the Authority may establish. (2)* Every tourism operation requiring a licence under this Act shall, with effect from a date to be specified by the Authority, contribute to an insolvency fund which the Authority may establish in such manner and for such amounts and under such conditions, and shall be managed by such persons, as may from time to time be determined by the Authority; the fund will provide compensation to any traveller, licensed tourism operation or tourist for undisputed debts or for unavoidable but necessary expenses arising from the insolvency of a licensed tourism operation. (3)* The Authority shall ensure that contributions required to be paid by licensed tourism operations and the conditions, exclusions and limitations of the insolvency fund referred to in subarticle (2) shall be published annually and be reasonably linked to the size and degree of risk being accepted by the fund from each licensed tourism operation; any compensation offered by the fund shall be published within six months of the insolvency of the licensed tourism operation.