41.—(1) If any of the events specified in the following paragraph shall occur then and in any such case the Minister may revoke this licence and thereupon the same and all the rights hereby granted shall cease and determine but subject nevertheless and without prejudice to any obligation or liability incurred by the Licensee or imposed upon him by or under the terms and conditions hereof.
(2) The events referred to in the foregoing paragraph are—
(a)any payments mentioned in clause 12(1) of this licence or any part thereof being in arrear or unpaid for two months next after any of the days whereon the same ought to have been paid;
(b)any breach or non-observance by the Licensee of any of the terms and conditions of this licence;
(c)in Great Britain, the bankruptcy or sequestration of the Licensee;
(d)in Great Britain, the making by the Licensee of any arrangement or composition with his creditors;
(e)in Great Britain, if the Licensee is a company, the appointment of a receiver or administrator or any liquidation whether compulsory or voluntary;
(f)in a jurisdiction other than Great Britain, the commencement of any procedure or the making of any arrangement or appointment substantially corresponding to any of those mentioned in sub-paragraphs (c) to (e) of this paragraph;
(g)any breach or non-observance by the Licensee of the terms and conditions of a Development Scheme;
(h)if the Licensee is a company, the Licensee’s ceasing to direct and control either—
(i)its operations under the licence; or
(ii)any commercial activities in connection with those operations
from a fixed place within the United Kingdom;
(i)any breach of a condition subject to which the Minister gave his approval in pursuance of clause 40(2) of this licence;
(j)any breach of clause 40(5) of this licence;
and where two or more persons are the Licensee any reference to the Licensee in sub-paragraphs (c) to (h) of this paragraph is a reference to any of those persons.
(3) The Minister may revoke this licence, with the like consequences as are mentioned in paragraph (1) of this clause, if—
(a)the Licensee is a company;
(b)there is a change in the control of the Licensee;
(c)the Minister serves notice in writing on the Licensee stating that the Minister proposes to revoke this licence in pursuance of this paragraph unless such a further change in the control of the Licensee as is specified in the notice takes place within the period of three months beginning with the date of service of the notice; and
(d)that further change does not take place within that period.
(4) There is a change in the control of the Licensee for the purposes of sub-paragraph (3)(b) of this clause whenever a person has control of the Licensee who did not have control of the Licensee when this licence was granted (or, if there has been an assignment or assignation of rights conferred by this licence, when those rights were assigned to the Licensee); and subsections (2) and (4) to (6) of section 416 of the Income and Corporation Taxes Act 1988 shall apply, for the purpose of determining whether for the purposes of this paragraph a person has or had control of the Licensee with the modifications specified in clause 41(4) of this licence.
(5) Where two or more persons are the Licensee and any of them is a company, paragraphs (3) and (4) of this clause shall have effect as if—
(a)sub-paragraph (a) of paragraph (3) were omitted;
(b)in sub-paragraph (b) of that paragraph, after the word “of” there were inserted the words “any company included among the persons who together constitute”; and
(c)for the word “Licensee” in any other provision of those paragraphs there were substituted the word “company”.