Notwithstanding paragraph 12d(1)(c), the Commission may, in the event of the death, incapacity, bankruptcy or, in the case of a company, liquidation of the intermediation business licensee or, where a receiver or manager is appointed in relation to the business of providing intermediation business of such intermediation business licensee or, where for any reason the
Commission is satisfied that it would be unjust not to do so, authorize the transfer of such licence.
Duty of intermediation business licensee to keep records, etc.