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(1)A licence under this Act may be granted for a period specified in the licence.
(2)A licence under this Act granted for a specified period may be renewed by the regulator, on the application of the licensee, for a further specified period.
(3)If the regulator is not the Secretary of State, the regulator must consult the Secretary of State before renewing a licence under this Act.
(4)Sections 8 to 13, and other provisions of this Act about licences, apply in relation to the renewal of a licence as they apply in relation to the grant of a licence.
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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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