20. Effect of revocation or suspension of licence

(1)

A person whose licence is revoked under section 18 or revoked or suspended under section 19 is, for the purposes of this Part, deemed not to be licensed from the date that the Board revokes or suspends the licence, as the case may be.

(2)

A revocation or suspension of a licence of a person does not operate so as to —

(a)

avoid or affect any agreement, transaction or arrangement relating to the trading in commodity contracts entered into by the person, whether the agreement, transaction or arrangement was entered into before or after the revocation or suspension of the licence; or

(b)

affect any right, obligation or liability arising under any such agreement, transaction or arrangement.