A Tasmanian gaming licence ceases to have effect –

(a) at the end of the period for which it has effect under section 76Z ; or

(b) when it is surrendered with the agreement of the Commission; or

(c) if it is cancelled, on the day specified in the notice of cancellation provided to the holder of the prescribed licence under section 112T(8) ; or

(d) 90 days after the day on which the licensed provider dies, becomes bankrupt, takes or applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with creditors, makes an assignment of remuneration for the benefit of creditors, is affected by control action under the Corporations Act (within the meaning of section 112S(4) ) or becomes mentally incapable of conducting a gaming business in the opinion of the Commission unless the licence is continued under section 76ZJ ; or

(e) if the licence is continued under section 76ZJ , at the end of the 6 month or shorter period referred to in section 76ZJ(7) .