Bankruptcy and liquidation
Your operating licence will lapse if the licence holder ceases to exist or goes into liquidation.
Personal management licences and personal functional licences will lapse if the licence holder becomes bankrupt.
If this occurs it is a key event and you must notify us at an early stage in the liquidation or bankruptcy processes.
You need to notify us of key events, within five working days, including:
- a petition being presented for the winding up of the company or a group company
- if the company or a group company is put into administration or receivership.
Where possible you should state who has been appointed as the administrator.
Once the company is in administration, if you continue to trade, the administrator is responsible for ensuring the business complies with the Gambling Act 2005 and Licence conditions and codes of practice (LCCP).
The company's licence will only lapse if the licence holder goes into liquidation.
Advice to administrators
If you are appointed an administrator for a licensed operator, you need to inform us if you intend the business to continue to trade.
You need to state who will have responsibility for overseeing operations, and if these people do not hold a personal licence or are not approved Annex A holders, you will need to apply for personal management licences.
In addition, we will require copies of administrators' reports and must be notified if the company is placed into liquidation.
In the event that the assets of the business are to be sold, you must ensure that all sales are to licensed operators. In the case of sale of machines, we do not expect you to apply for a suppliers licence provided that either:
- the gaming machines or parts of gaming machines are only sold as scrap
- the supply of the gaming machine is incidental to the sale or letting of property on which the machine has previously been lawfully used.