(b) any other person (other than a financial institution) who is
interested in the business, or the profits of the business, carried on under
the licence.
(2) Such an application may only be made within 56 days after
the cancellation of the licence.
(3) An application under this section must--
(a) be made in the form and manner approved by the Secretary, and
(b) be
accompanied by--
(i) the unpaid periodic licence fee concerned, and
(ii) the
late payment fee prescribed by the regulations, and
(iii) the application fee
prescribed by the regulations (if any), and
(c) be accompanied by such
information and particulars as may be prescribed by the regulations, and
(d)
comply with such other requirements as may be imposed by the Secretary or
prescribed by the regulations.
(4) The Secretary may reinstate the licence if
the Secretary is satisfied that there is a reasonable explanation for the
failure to pay the periodic licence fee.
(5) A cancelled licence that is
reinstated under this section is to take effect and continue in force as if
the licence had been suspended during the period of cancellation.
(6)
Regulations may be made for and with respect to the circumstances in which a
fee that accompanies an application under this section, or a proportion of
such a fee, may be waived or refunded.
(7) For the purposes of subsection
(1), a person is interested in the business, or the profits of the business,
carried on under a licence if the person is entitled to receive--
(a) any
income derived from the business, or any other financial benefit or financial
advantage from the carrying on of the business (whether the entitlement arises
at law or in equity or otherwise), or
(b) any rent, profit or other income in
connection with the use or occupation of premises on which the business is
carried on.
