(1)Subject to sections 27 and 28, a premises licence has effect until such time as—
(a)it is revoked under section 52, or
(b)if it specifies that it has effect for a limited period, that period expires.
(2)But a premises licence does not have effect during any period when it is suspended under section 52.
(1)A premises licence lapses if the holder of the licence—
(a)dies,
(b)becomes mentally incapable (within the meaning of section 13(1) of the Enduring Powers of Attorney Act 1985 (c. 29)),
(c)becomes insolvent,
(d)is dissolved, or
(e)if it is a club, ceases to be a recognised club.
(2)This section is subject to sections 47 and 50 (which make provision for the reinstatement of the licence in certain circumstances).
(3)For the purposes of this section, an individual becomes insolvent on—
(a)the approval of a voluntary arrangement proposed by him,
(b)being adjudged bankrupt or having his estate sequestrated, or
(c)entering into a deed of arrangement made for the benefit of his creditors or a trust deed for his creditors.
(4)For the purposes of this section, a company becomes insolvent on—
(a)the approval of a voluntary arrangement proposed by its directors,
(b)the appointment of an administrator in respect of the company,
(c)the appointment of an administrative receiver in respect of the company, or
(d)going into liquidation.
(5)An expression used in this section and in the Insolvency Act 1986 (c. 45) has the same meaning in this section as in that Act.
(1)Where the holder of a premises licence wishes to surrender his licence he may give the relevant licensing authority a notice to that effect.
(2)The notice must be accompanied by the premises licence or, if that is not practicable, by a statement of the reasons for the failure to provide the licence.
(3)Where a notice of surrender is given in accordance with this section, the premises licence lapses on receipt of the notice by the authority.
(4)This section is subject to section 50 (which makes provision for the reinstatement in certain circumstances of a licence surrendered under this section).