(1) This section applies if the regulator gives a licence-holder written notice of its decision to refuse to renew the licence.
(2) If the licence-holder does not apply for internal review of the decision, the licence continues to have effect until the last of the following events:
(a) the expiry of the licence;
(b) the end of the period for applying for an internal review.
(3) If the licence-holder applies for an internal review of the decision, the licence continues to have effect until the earlier of the following events:
(a) the licence-holder withdraws the application for review;
(b) the regulator makes a decision on the review.
(4) If the licence-holder does not apply for an external review, the licence continues to have effect until the end of the time for applying for an external review.
(5) If the licence-holder applies for an external review, the licence continues to have effect until the earlier of the following events:
(a) the licence-holder withdraws the application for review;
(b) the ACAT makes a decision on the review.
(6) The licence continues to have effect under this section even if its expiry date passes.