TOBACCO AND OTHER SMOKING PRODUCTS ACT 1998 - SECT 45 Licensee is placed into administration, receivership or liquidation

TOBACCO AND OTHER SMOKING PRODUCTS ACT 1998 - SECT 45

45 Licensee is placed into administration, receivership or liquidation

(1) This section applies if a licensee is a corporation and is placed into administration, receivership or liquidation.

(2) The administrator of the corporation may carry on the business conducted under the retail or wholesale licence as the licensee.

Note—

Under section 47 , the administrator must notify the chief executive if the administrator becomes the licensee.

(3) If the administrator of the corporation decides to carry on the business conducted under the retail or wholesale licence, the administrator—

(a) is taken to be the licensee; and

(b) is taken to be a fit and proper person to be a licensee despite section 40 .

(4) However, the administrator may, as licensee, apply to renew or restore the retail or wholesale licence only if the chief executive is satisfied the renewal or restoration is necessary for the administration, receivership or liquidation.

(5) To remove any doubt, it is declared that the retail or wholesale licence continues to be subject to all limitations applying to the licence, including, for example, the term of the licence and all conditions applying to the licence.

(6) Nothing in this section prevents the retail or wholesale licence being suspended or cancelled while the administrator is licensee under this section.