(1) Subject to sections 71M, 71N and 74, any dealing in relation to an access licence held by co-holders, and any application for the Minister's consent to such a dealing, requires the consent of all of the co-holders (a
"co-holder's consent" ).
(2) A co-holder of an access licence may, in accordance with the regulations--(a) appoint another co-holder (the first co-holder's
"nominee" ), to give, on his or her behalf, any co-holder's consent required by subsection (1) in relation to an application for the Minister's consent to a dealing, and(b) revoke any appointment that the co-holder has made under paragraph (a).
(3) The same person may be nominee for more than one co-holder.
(4) Any co-holder's consent given by the co-holder's nominee in relation to an application for the Minister's consent to a dealing in an access licence is taken to have been given by the co-holder.
(5) The revocation of a nominee's appointment under subsection (2) (b) does not affect any co-holder's consent given by the nominee before the revocation took effect.