Duration of licence

(1) Subject to regulation 12(2) below. a licence, unless it is cancelled or surrendered, shall remain in force for a period of twelve months beginning on such date as is specified therein. (2) The holder of a licence may surrender the licence by notice in writing to the Committee. (3) The cancellation, surrender or expiry of a licence shall not affect any liability for anything done or omitted to be done before the date on which it ceases to have effect.