Part 3Premises licences
Duration of licence
27Death, incapacity, insolvency etc. of licence holder
1
A premises licence lapses if the holder of the licence—
a
dies,
b
becomes mentally incapable (within the meaning of section 13(1) of the Enduring Powers of Attorney Act 1985 (c. 29)),
c
becomes insolvent,
d
is dissolved, or
e
if it is a club, ceases to be a recognised club.
2
This section is subject to sections 47 and 50 (which make provision for the reinstatement of the licence in certain circumstances).
3
For the purposes of this section, an individual becomes insolvent on—
a
the approval of a voluntary arrangement proposed by him,
b
being adjudged bankrupt or having his estate sequestrated, or
c
entering into a deed of arrangement made for the benefit of his creditors or a trust deed for his creditors.
4
For the purposes of this section, a company becomes insolvent on—
a
the approval of a voluntary arrangement proposed by its directors,
b
the appointment of an administrator in respect of the company,
c
the appointment of an administrative receiver in respect of the company, or
d
going into liquidation.
5
An expression used in this section and in the Insolvency Act 1986 (c. 45) has the same meaning in this section as in that Act.