17Carrying on of business for licensee in certain circumstances—the Act, s 43(1)(d)

17 Carrying on of business for licensee in certain circumstances—the Act, s 43(1)(d)

17 Carrying on of business for licensee in certain circumstances—the Act, s 43(1)(d)

(1) This section applies to a licence if the licensee—

(a) dies, or

(b) becomes mentally incapacitated, or

(c) becomes personally insolvent.

(2) The licensee’s legal personal representative or the trustee of the licensee’s estate may carry on the business authorised by the licence for a period of not more than 3 months after the death or incapacity of the licensee or the person becoming personally insolvent—

(a) personally, or

(b) through a designated agent.

(3) A person carrying on a business in accordance with this section (a temporary licensee)—

(a) must immediately notify the Secretary, and

(b) is taken for the Act and this regulation to be the licensee while carrying on the business, and

(c) if the licence expires during the 3 month period—is not guilty of an offence against the Act, section 6 or 7 for carrying on the business.

(4) An agent through whom a temporary licensee acts for the carrying on of the business is taken to be an employee of the business.

(5) The Secretary may revoke the authority conferred by this section by written notice to a temporary licensee.