Paragraph 5
An authorisation under this Schedule in respect of an individual shall terminate if—
he dies;
is adjudged bankrupt; or
becomes a patient within the meaning of Part VIII of the Mental Health (Northern Ireland) Order 1986f1.
An authorisation under this Schedule in respect of a firm shall terminate if the firm is dissolved or if all the partners are adjudged bankrupt.
An authorisation under this Schedule in respect of a company shall terminate if—
the company goes into liquidation or an administration order is made in relation to it;
a receiver or manager of the trade or business is appointed; or
possession is taken by or on behalf of the holders of any debenture secured by a floating charge, or by any property of the company comprised in or subject to the charge, occurs.