(1)The Commission may, on an application by a person under section 12, grant a licence to that person authorising him to do anything which—
(a)would otherwise contravene section 6(1), and
(b)is specified in the licence or determined by or under it.
(2)A licence shall not be valid unless it is in writing.
(3)A licence shall not be transferred.
(4)A licence shall, unless it previously ceases to have effect in accordance with its provisions, continue in force for the period specified in it or determined by or under it.