(1)  If the Commission cancels the accreditation of the holder of an owner-operator taxi licence in accordance with Part 2A of the Passenger Transport Act 1997 , the Commission, by notice in writing given to the holder of the licence, is to require the holder of the licence to either –

(a) transfer that licence to another accredited operator of a taxi service within the period specified in the notice; or

(b) surrender that licence to the Commission within the period specified in the notice.

(2)  On receipt of a notice under subsection (1) , the holder of the owner-operator taxi licence, not later than the date specified in the notice, must –

(a) transfer the licence to another accredited operator of a taxi service; or

(b) surrender the licence to the Commission.

(3)  If the holder of the owner-operator taxi licence does not comply with a requirement of the Commission given under subsection (1) , the Commission may cancel the licence without notice.