(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).