Paragraph 22 Power of revocation or variation

(1)

If any of the events specified in the following paragraph shall occur the Secretary of State may revoke this licence whereupon all the rights hereby granted shall cease and determine but subject nevertheless and without prejudice to any obligation or liability incurred by the Licensee or imposed upon him by or under the terms and conditions hereof.

(2)

The events referred to in the foregoing paragraph are—

(a)

where section 6 of the Act applies;

(b)

any payment under clause 5 hereof or any part thereof being in arrear or unpaid for two months following the day on which it ought to have been paid;

(c)

any breach or non-observance by the Licensee of any of the terms or conditions of this licence;

(d)

the bankruptcy (or in Scotland sequestration) of the Licensee;

(e)

the making by the Licensee of any arrangement or composition with his creditors (or in Scotland the granting by him of a trust deed for behoof of creditors or the making of a composition contract);

(f)

if the Licensee is a company, the appointment of a receiver by the company or by the creditors of that company, or the company going into compulsory or voluntary liquidation;

(g)

the Licensee's ceasing in the case of a company to have its central management or be incorporated in the United Kingdom;

and where two or more persons are the Licensee any reference to the Licensee in sub-paragraphs (c) to (g) of this paragraph is a reference to any of those persons.

(3)

The Secretary of State may vary this licence under section 6(1) of the Act.