A liquor licence that a person is taken to hold under subregulation 92(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 Liquor Act, as that Act is taken to apply to it; or
(c) when it would expire under the Liquor Act.