Part III Licensing of Credit and Hire Businesses
Miscellaneous
37 Death, bankruptcy etc. of licensee.
C11
A licence held by one individual terminates if he—
a
dies, or
b
is adjudged bankrupt, or
F1c
becomes a person who lacks capacity (within the meaning of the Mental Capacity Act 2005) to carry on the activities covered by the licence.
F21A
A licence terminates if the licensee gives the OFT a notice under subsection (1B).
1B
A notice under this subsection shall—
a
be in such form as the OFT may by general notice specify;
b
contain such information as may be so specified;
c
be accompanied by the licence or give reasons as to why it is not accompanied by the licence; and
d
be signed by or on behalf of the licensee.
2
In relation to a licence held by one individual, or a partnership or other unincorporated body of persons, or a body corporate, regulations may specify other events relating to the licensee on the occurrence of which the licence is to terminate.
3
Regulations may—
a
provide for the termination of a licence by subsection (1) F3or (1A) , or under subsection (2), to be deferred for a period not exceeding 12 months, and
b
authorise the business of the licensee to be carried on under the licence by some other person during the period of deferment, subject to such conditions as may be prescribed.
4
This section does not apply to group licences.