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5.—(1) An authorisation under this Schedule in respect of an individual shall terminate if—
(a)he dies;
(b)is adjudged bankrupt; or
(c)becomes a patient within the meaning of Part VIII of the Mental Health (Northern Ireland) Order 1986(1).
(2) An authorisation under this Schedule in respect of a firm shall terminate if the firm is dissolved or if all the partners are adjudged bankrupt.
(3) An authorisation under this Schedule in respect of a company shall terminate if—
(a)the company goes into liquidation or an administration order is made in relation to it;
(b)a receiver or manager of the trade or business is appointed; or
(c)possession is taken by or on behalf of the holders of any debenture secured by a floating charge, or by any property of the company comprised in or subject to the charge, occurs.
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