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Where any provision of this Part of this Act coming into operation on a day fixed by resolution under section 45 of this Act requires the licensing of a person carrying on any business, or of any vehicle used by a person in connection with any business, it shall be lawful for any person who—
(a)immediately before that day was carrying on that business; and
(b)had before that day duly applied for the licence required by that provision;
to continue to carry on that business until he is informed of the decision with regard to his application and, if the decision is adverse, during such further time as is provided under section 77 of this Act.
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