Section 23: Licensing of the successor companies.

(1) On the transfer date specified in the relevant transfer order, the Commission shall issue an appropriate interim licence, to each successor company, which shall be valid for a period not exceeding one year.
(2) A successor company that has received an interim licence under subsection(1) shall, within six months thereafter, apply to the Commission for a regular licence in accordance with the provisions of Part IV of this Act.