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Chapter 5
Automatic termination of licence
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Automatic termination of licence
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179. (1) Subject to Chapter 7, a licence terminates immediately upon the occurrence of any of the following events:
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(a) where the holder of the licence is an individual, the holder—
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(i) dies,
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(ii) is adjudicated bankrupt (whether in the State or elsewhere), or
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(iii) becomes an arranging debtor (whether in the State or elsewhere);
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(b) where the holder of the licence is a body corporate—
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(i) the holder commences a voluntary winding-up or becomes subject to a winding-up order,
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(ii) a receiver or examiner is appointed to the holder,
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(iii) the holder proposes a compromise or arrangement that is sanctioned under section 453(2) of the Act of 2014, or
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(iv) where the body is incorporated under the laws of another state, on the commencement of any event which corresponds to an event referred to in subparagraph (i), (ii) or (iii).
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(2) (a) Where subsection (1)(a)(i) applies to the holder of a licence, the personal representative of the former holder’s estate shall, as soon as is practicable after the death of the former holder, give notice in the specified form to the AHRRA informing the AHRRA of such death.
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(b) Where subsection (1)(a)(ii) or (iii) applies to the holder of a licence, the former holder shall, as soon as is practicable after that subsection so applies, give notice in the specified form to the AHRRA informing the AHRRA of such application.
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(3) (a) Where subsection (1)(b)(i), (iii) or (iv) applies to the holder of a licence, the former holder shall, as soon as is practicable after that subsection so applies, give notice in the specified form to the AHRRA informing the AHRRA of such application.
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(b) Where subsection (1)(b)(ii) applies to the holder of a licence, the receiver or examiner concerned shall, as soon as is practicable after that subsection so applies, give notice in the specified form to the AHRRA informing the AHRRA of such application.
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(4) The AHRRA shall, as soon as is practicable after it becomes aware of the termination under this section of a licence, publish a notice on its website—
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(a) stating the name of the holder,
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(b) giving the particulars of the licence sufficient to identify the licence,
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(c) stating the ground under subsection (1) on which the licence was terminated, and
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(d) the date on which the termination occurred.
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