[F159BVesting of licence on death or bankruptcy of holderE+W
(1)On the death of the holder of a licence under this Chapter, the licence shall be regarded as property forming part of the deceased’s personal estate, whether or not it would be so regarded apart from this subsection, and shall accordingly vest in his personal representatives.
(2)If a bankruptcy order is made against the holder of a licence under this Chapter, the licence shall be regarded for the purposes of any of the Second Group of Parts of the Insolvency Act 1986 (insolvency of individuals; bankruptcy) as property forming part of the bankrupt’s estate, whether or not it would be so regarded apart from this subsection, and shall accordingly vest as such in the trustee in bankruptcy.
(3)A person in whom a licence vests under this section shall become the holder of the licence, in place of the prior holder, from the date of the vesting.
(4)Where a licence other than a temporary licence vests in any person under this section, that person shall give notice of that fact to the [F2appropriate agency] not later than the end of the period of fifteen months beginning with the date of the vesting.
(5)If—
(a)a licence vests in any person under this section; but
(b)that person fails to give the notice required by subsection (4) above within the period mentioned there,
the licence shall cease to have effect.]
Textual Amendments
F1Ss. 59A-59D and cross-heading inserted (1.4.2006) by Water Act 2003 (c. 37), ss. 23(1), 105(3); S.I. 2006/984, art. 2(m) (with Sch. para. 3)
F2Words in ss. 59A-59C substituted (1.4.2013) by The Natural Resources Body for Wales (Functions) Order 2013 (S.I. 2013/755), art. 1(2), Sch. 2 para. 270(j) (with Sch. 7)