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Consumer Credit Act 1974
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37Death, bankruptcy etc. of licencee
(1)A licence held by one individual terminates if he—
(a)dies, or
(b)is adjudged bankrupt, or
(c)becomes a patient within the meaning of Part VIII of the [1959 c. 22.] Mental Health Act 1959.
(2)In relation to a licence held by one individual, or a partnership or other unincorporated body of persons, or a body corporate, regulations may specify other events relating to the licensee on the occurrence of which the licence is to terminate.
(3)Regulations may—
(a)provide for the termination of a licence by subsection (1), or under subsection (2), to be deferred for a period not exceeding 12 months, and
(b)authorise the business of the licensee to be carried on under the licence by some other person during the period of deferment, subject to such conditions as may be prescribed.
(4)This section does not apply to group licences.
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