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27.—(1) If a licence or disc has been lost, destroyed or defaced, the person to whom it was issued shall forthwith notify in writing the traffic commissioner by whom the licence or disc was issued.
(2) If—
(a)the traffic commissioner is satisfied that a licence or disc has been lost, destroyed or defaced; and
(b)in the case of a licence or disc which has been defaced, it is surrendered to the traffic commissioner,
the traffic commissioner shall issue a copy (so marked) which shall have effect as the original licence or disc.
(3) Where a licence or disc has been lost and after a copy has been issued the lost licence or disc is found by or comes into the possession of the licence-holder he shall forthwith return the original licence or disc to the traffic commissioner.
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