Provision upon death or bankruptcy, etc., of licensee
14.—(1)  If a person licensed to import an explosive or any guns or arms dies or becomes bankrupt or becomes mentally incapable or otherwise disabled, the person carrying on the business of that licensee shall not be liable to any penalty or forfeiture for acting under the licence during such reasonable time as is necessary to allow him to make an application to the Licensing Officer for a new licence.
(2)  The second-mentioned person referred to in subsection (1) shall be deemed to be the holder of the licence for all purposes under this Act, and to be liable in the same way as if he were the original holder of the licence until a new licence is issued.