18.— (1) Where the ownership of a licensed public bus passenger service is transferred to another person, the Authority may, on the application of that person and payment of the appropriate fee, subject to subsection (2), transfer the licence to that person.

(2) An application made under subsection (1) shall be considered in accordance with section 10(2) and (3).

(3) The transfer of a licence under this section does not affect the period of validity of the licence.

(4) (a) Save as is provided for in this section or in section 17, a licence shall not be transferred by the licence holder to another person.

(b) Where the Authority becomes aware of the transfer of a licence other than as is provided for in this section or in section 17, it shall revoke the licence with immediate effect.