S.L. 545.34 Art. 56Termination of licence.

(1) When the holder of a licence issued under these regulations, decides either to suspend or terminate his licence, such holder shall promptly notify the Regulator in the form prescribed by the Authority, to notify such a termination or suspension.

(2) Upon acknowledgment by the Regulator to the holder of a licence of the notification mentioned in sub-regulation (1), the licence shall be considered to have ceased to be in force and with immediate effect from the date of such acknowledgment such holder shall be deemed to be unlicensed.

(3) Notwithstanding any notice for the termination or suspension of a licence, the holder of the licence shall remain liable for the payment of any fee due to the Regulator.