Thanks Eddie - will give it a go ,The fault could be due to a collector - emitter short-circuit on the diamond-shaped 2N3055 power transistor.
The metal case of the transistor is the collector, and the emitter is the left-hand pin when looking at the underside with the two pins below the centreline. If you disconnect the external wires and plugs from the board that should be enough to make the measurement for a short, using the Diode Test range on your meter, but you may need to unsolder the transistor to confirm it.
Pwm even
Seems to work ok with it - but yeah from another thread you was replying too you said it was a pwm -Looking at the components on the PCB, the 8-pin chip suggests that the speed control is already PWM. The chip may be an LM741, or similar, Op-amp, wired to send pulses to the 2N3055 power transistor. If it is running too fast, that could be due to an out-of-spec capacitor.
However, new stand-alone PWM controllers are so cheap, it is probably better to install one than bother with the cost of troubleshooting the original PCB.