15.—(1) Subject to paragraph (2), a licensee must, upon the grant of a licence, appoint one of the licensee’s employees as the key executive officer who must be responsible for the proper management and operation of the licensee’s business of a travel agent.
(2) Where the licensee is a sole proprietor or a partnership, then, as the case may be —
(a)
the sole proprietor may instead be the key executive officer; or
(b)
one of the partners of the partnership may instead be the key executive officer.
(3) If a vacancy occurs in the post of key executive officer by reason of the death, resignation or revocation of appointment of the key executive officer, the licensee must —
(a)
within 14 days after the vacancy arises, notify the Board of that fact; and
(b)
within 3 months after the vacancy arises, have another person appointed or act as key executive officer in accordance with paragraph (1) or (2), as the case may be.