SCHEDULES
SCHEDULE 14Licensing authority's powers of intervention
Money etc: vesting in licensing authority
4
1
Any rights to which this paragraph applies shall vest in the licensing authority if the licensing authority decides that they should do so.
2
This paragraph applies to any right to recover or receive debts due to the licensed body in connection with its business.
3
Any sums recovered by the licensing authority by virtue of the exercise of rights vested under sub-paragraph (1) vest in the licensing authority and are held by it—
a
on trust to exercise the powers conferred by this Schedule in relation to them, and
b
subject to that and to rules under paragraph 6, on trust for the persons beneficially entitled.
4
The licensing authority must give the licensed body, and any other person who owes a debt to which the order applies a copy of the licensing authority's decision.