A liquor licence that a person is taken to hold under subregulation 71(1) ceases:
(a) if the relevant liquor authorisation is conferred in a lease, licence, sublease or sublicence--when that lease, sublease, licence or sublicence ends; or
(b) if the licence is cancelled under the LC Act, as that Act is taken to apply to it; or
(c) when the liquor licence would expire under the LC Act.