(1) A licensee under a licence which is due to expire, by effluxion of time or as a result of notice given by the licensing body, may apply to the High Court on the ground that it is unreasonable in the circumstances that the licence should cease to be in force.
(2) Such an application may not be made until the last 3 months before the licence is due to expire.
(3) A licence in respect of which a reference has been made to the Court shall remain in operation until proceedings on the reference are concluded.
(4) If the Court finds the application well-founded, it shall make an order declaring that the licensee shall continue to be entitled to the benefit of the licence on such terms as the Court may determine to be reasonable in the circumstances.
(5) An order of the Court under this section may be made so as to be in force indefinitely or for such period as the Court may determine.