18.—(1) If any of the events specified in the following paragraph 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 of this licence.
(2) Those events are—
(a)all or any part of any consideration specified in Schedule 3 being in arrear or unpaid for two months next after any of the days on which 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)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;
and where two or more persons are the Licensee any reference to the Licensee in sub-paragraphs (b) to (g) of this paragraph is a reference to any of those persons.