(1) Every third-party policy in relation to motor vehicles to which a trader's
plate issued in respect of any business is affixed shall enure in favour of
the person who for the time being is carrying on such business and the driver
of any such motor vehicle, notwithstanding any change in the ownership of such
business, but shall cease to have effect when another third-party policy in
relation to motor vehicles to which that trader's plate is affixed comes into
force, except in relation to any liability, whether under the policy or under
this Act, accrued or incurred before such other third-party policy came into
force.
(2) The regulations may require that as soon as practicable after the
sale or other disposal of any business in respect of which a trader's plate is
in issue:
