S.L. 441.7 Art. 17Payment of arrears.

(1) When processing an application for cancellation, the

Trade Licensing Unit shall notify the licensee of any arrears due and the licensee shall have sixty (60) working days to pay the arrears in question from the date of such notification: Provided that if the arrears are not paid within sixty (60) working days from the date of notification, the Trade Licensing Unit shall serve the debtor with a judicial act stating that payment is to be effected within the period stated therein:

Provided further that no such judicial action shall be taken if the licensee provides within the same time period reasons which, in the opinion of the Trade Licensing Unit, are satisfactory, as to why such arrears should not be paid.

(2) The licence shall be cancelled as from the date of the receipt of the application for cancellation, subject to the submission of the relevant application and any fee which may be prescribed, irrespective of any arrears owed.