Valid from 24/11/2005
27Death, incapacity, insolvency etc. of licence holderE+W
(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.