Northern Territory Consolidated Acts Northern Territory Consolidated Acts47B. Licence to lapse in certain circumstances
Where a licensee:
(a) dies; or
(b) becomes bankrupt, applies to take the benefit of a law for the relief of bankrupt or insolvent debtors or makes an assignment of his property, interest or remuneration for the benefit of his creditors,
and the Commission is not satisfied that adequate arrangements have been made for the conduct of the business of the licensee, the Commission may cancel the licence at the expiration of 7 days after the date of the death, declaration of bankruptcy, application or assignment, as the case may be.