(1) Where a licence has expired a person may apply to the Authority for a renewal of that licence.
(2) The Authority may, on application made to it under subsection (1) and on payment of a prescribed fee, renew the licence for a period not exceeding one year.
(3) Despite anything contained in this Act, a person to whom a licence is granted may, at any time, surrender that licence, and from the date of the surrender that person shall not operate or allow the operation of a business in respect of which that licence was granted.