499.Where the licensee dies, becomes (in the opinion of the licensing authority) incapable of carrying out the licensed activities due to physical or mental incapacity; or becomes bankrupt; insolvent; ceases to exist; or goes into liquidation, then the licence will lapse. A lapsed licence may be reinstated under sections 195 and 196.
500.When a licensing authority becomes aware of the lapse of a licence, it must, as soon as reasonably practicable, notify the Commission, the police, and Her Majesty’s Commissioners of Customs and Excise.