2(1)The Secretary of State may make in relation to a licence or licence exemption granted before the coming into force of Part I of Schedule 17 a scheme making such provision as appears to him to be appropriate in consequence of the amendments made by that Part of that Schedule.E+W+S
(2)The scheme may include modifications of—
(a)the licence or licence exemption, and
(b)any agreements or other arrangements or other documents relating to the person (or any of the persons) to whom it was granted,
(in particular so that references to the Regulator have effect as references to the Authority).
(3)The scheme may include provision for things done by the Regulator before the time when the scheme comes into force to be treated after that time as if done by the Authority.
(4)Before making a scheme under this paragraph the Secretary of State must consult—
(a)the Authority,
(b)the Regulator,
(c)the person or persons to whom the licence or licence exemption was granted, and
(d)any such other persons as the Secretary of State considers appropriate.
(5)The amendments made by Part I of Schedule 17 apply in relation to any licence or licence exemption granted before the coming into force of that Part of that Schedule only from the coming into force of a scheme made under this paragraph in relation to the licence or licence exemption.