8.—(1) Subject to paragraph (5), where the licensing authority is satisfied that—
(a)an operator has ceased to operate from every operating centre specified in his licence, other than by reason of the suspension or revocation of that licence;
(b)that operator has transferred some or all of his undertaking as an operator to another person, and
(c)before the date of the transfer the transferee has been granted a new licence in relation to any operating centre specified in the transferor’s licence,
the licensing authority shall, upon receipt of a written request for a refund accompanied by the transferor’s licence, refund a proportion of the fee paid for the grant of that licence being an amount calculated in accordance with paragraph (3).
(2) Subject to paragraph (5), where a licence has been granted following an election made under regulation 7(2) or (5) and before its expiry the operator has been granted a new licence in circumstances where he did not meet the requirement set out in regulation 7(3) in relation to all of the operating centres to be specified in that licence, the licensing authority shall, upon receipt of a written request for a refund accompanied by the first mentioned licence, refund a proportion of the fee paid for the grant of that licence being an amount calculated in accordance with paragraph (3).
(3) Subject to paragraph (4), the amount referred to in paragraphs (1) and (2) shall be that proportion of the fee which the number of full years remaining on the licence bears to the period for which the licence was granted, the number of full years being calculated from the date of receipt by the licensing authority of both the request for a refund and the licence.
(4) Where the calculation in accordance with paragraph (3) would have the result that the amount refundable would include a fraction of a pound then the amount refundable shall be adjusted downwards to the nearest pound.
(5) Where a proportion of the fee paid for the grant of a licence is refunded in accordance with paragraph (1) or (2), that licence shall cease to have effect.