After section 24A the
following section is inserted —
“
24B. Change of nominated
owner
(1) If a person is the
owner of a vehicle as the result of a nomination for the purposes of
section 5(4), the person may apply to the Director General, in a form approved
by the Director General, to cancel the nomination.
(2) The application is
to include a statement, signed by each person who would be an owner if there
had been no nomination, to the effect that they agree to another of them being
the owner of the vehicle for the purposes of this Act.
(3) If the Director
General approves the application and the applicant pays the prescribed fee, if
any —
(a) the
current nomination ceases to have effect;
(b) the
statement under subsection (2) is to be treated as being a nomination for
the purposes of section 5(4); and
(c) the
Director General is to vary the licence by changing the name of the person to
whom the licence is issued in accordance with the application.
”.