Licences10
1
The prohibitions in regulations 3 to 7 do not apply to anything done under the authority of a licence granted by the Treasury.
2
A licence must specify the acts authorised by it and may be—
a
general or granted to a category of persons or to a particular person;
b
subject to conditions;
c
of indefinite duration or subject to an expiry date.
3
The Treasury may vary or revoke a licence at any time.
4
On the grant, variation or revocation of a licence, the Treasury must—
a
in the case of a licence granted to a particular person, give written notice of the grant, variation or revocation to that person,
b
in the case of a general licence or a licence granted to a category of persons, take such steps as the Treasury consider appropriate to publicise the grant, variation or revocation of the licence.
5
A person commits an offence who, for the purpose of obtaining a licence, knowingly or recklessly—
a
provides information that is false in a material respect, or
b
provides or produces a document that is not what it purports to be.
6
A person who purports to act under the authority of a licence but who fails to comply with any conditions included in the licence commits an offence.