For the purposes of section 18(1)(a)(ii) and (b)(ii) of the Act, the prescribed circumstances are that the holder of the cancelled or refused licence (as the case may be) was a corporation and, because of a genuine sale, the following requirements apply in respect of the corporation—
(a) no person who at the time of the cancellation or refusal was a shareholder of, or held a beneficial interest in, the corporation is a shareholder of, or holds a beneficial interest in, the corporation, at the time of the application for a licence;
(b) no person who at the time of the cancellation or refusal was in a position to control or influence the affairs of the corporation is, at the time of the application for a licence, in a position to control or influence the affairs of the corporation.