12(1)The [1964 c. 26.] Licensing Act 1964 shall be amended as follows.
(2)For paragraph (c) of section 8(1) (justices' licence to be transferred to trustee of licensee in the case of a bankruptcy or composition or scheme), there shall be substituted the following paragraph—
“(c)where the holder of the licence has been adjudged bankrupt, or a composition or scheme proposed by the holder of the licence has been approved under Chapter I of Part III of the Insolvency Act 1985, or a trustee has been appointed under a deed of arrangement within the meaning of the [1914 c. 47.] Deeds of Arrangement Act 1914 for the benefit of the creditors of the holder of the licence, to the trustee of the bankrupt's estate or under the deed or the supervisor of the composition or scheme or the new tenant or occupier of the premises;”.
(3)For subsection (5) of section 10 (protection orders where licensee dies or is adjudged bankrupt etc.) there shall be substituted the following subsection—
“(5)Where the holder of a justices' licence has died or has been adjudged bankrupt, or a composition or scheme proposed by the holder of a justices' licence has been approved under Chapter I of Part III of the [1914 c. 47.] Insolvency Act 1985, or a trustee has been appointed under a deed of arrangement within the meaning of the Deeds of Arrangement Act 1914 for the benefit of the creditors of the holder of a justices' licence, the personal representatives or the person who is for the time being the trustee of the bankrupt's estate or under the deed or the supervisor of the composition or scheme shall be in the same position as regards carrying on business under the licence as a person to whom a protection order had been validly granted on the date of the death, or, as the case may be, the date on which he became trustee or supervisor.”