(1) Where—
(a) written application is made to the Commissioner for the replacement of a key person licence;
(b) the determined fee has been paid; and
(c) the Commissioner is satisfied that the licence has been lost, stolen, destroyed or damaged in such way as to warrant replacement;
the Commissioner may issue a replacement licence to the key person licensee.
(2) A replacement licence shall be on the same terms, and be subject to the same conditions, as the licence it replaces.
(3) Where—
(a) the Commissioner has refused an application for the replacement of a key person licence; and
(b) the Commissioner believes that a key relationship exists between the key person licensee and a licensed provider;
the Commissioner shall, as soon as practicable, give a copy of the notice whereby the decision has been notified to the applicant to the licensed provider.