It sounds electrical,
I'd start by checking all connections for tight and clean. All the electric parts can be tested on the bench by applying power or incase of the governor use a continuity test from its terminal to its body, lightly hold the pilot on the end of the gear with a chuck in a drill motor (variable speed type), hold the body in one hand and spin the gear pilot with the drill. Should be open circuit when stationery and as you speed up the drill it should go closer circuit. As you slow down it should go open circuit. There are contact points inside that may need cleaning. Solenoid contacts get mucky and oily if there's even a tiny leak into the solenoid case, make sure the drain hole is open in the case.
Not sure a 53 would have a lockout switch.
Kickdown switch, and relay also need checking over. The relay has its own fuse on the side if I recall correctly (never seen a 53 one) check the relay and fuse for tight and clean connections, not forgetting the parts that the fuse clips into.
I'm sure you'll find the issue, just go through methodically. Ie, not in the order I've typed here, (I type as it comes into my head) simple stuff first.
Be sure to report back,
Martin.