sec.54Lapsing of key person licence

### sec.54 Lapsing of key person licence A key person licence lapses if the key person licensee is a licensed employee and— at the end of 1 year after the licence was issued, the licensee has not been employed (as a key employee or in any other capacity) by a primary licensee; or the licensee ceases to be employed by a primary licensee and is not re-employed by the same or another primary licensee within the following 3 months. A key person licence lapses if the person licensed is licensed as a key operator and ceases to be a key operator. s 54 amd 2007 No. 22 s 3 sch 1 (sec.54-ssec.1) A key person licence lapses if the key person licensee is a licensed employee and— at the end of 1 year after the licence was issued, the licensee has not been employed (as a key employee or in any other capacity) by a primary licensee; or the licensee ceases to be employed by a primary licensee and is not re-employed by the same or another primary licensee within the following 3 months. (sec.54-ssec.2) A key person licence lapses if the person licensed is licensed as a key operator and ceases to be a key operator. - (a) at the end of 1 year after the licence was issued, the licensee has not been employed (as a key employee or in any other capacity) by a primary licensee; or - (b) the licensee ceases to be employed by a primary licensee and is not re-employed by the same or another primary licensee within the following 3 months.