Paragraph 3 Prematurely terminated licences
This paragraph applies to an existing licence if—
a traffic commissioner has, before the appointed day, given a direction under section 69 of the 1968 Act that an existing licence be terminated on a date earlier than that on which it would otherwise expire under section 67 of that Act; and
the date specified in the direction as the date on which the licence is to terminate is on or after the appointed day.
Subject to sub-paragraph (3), an existing licence to which this paragraph applies shall, unless previously revoked or otherwise terminated under any provision of the 1995 Act or any other statutory provision, terminate on the date specified in the direction as the date on which the licence is to terminate.
If, on the date on which an existing licence is due to expire by virtue of sub-paragraph (2) above, proceedings are pending before the traffic commissioner on an application by the holder of that licence for the grant to him of a new licence in substitution therefor, the existing licence shall, subject to its revocation or other termination under any provision of the 1995 Act or any other statutory provision, continue in force until—
the application, and
any appeal under section 37 of the 1995 Act arising out of the application,
are disposed of.
Section 16(2) of the 1995 Act shall have effect subject to this paragraph.