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4(1)Section 8 (licences) is amended as follows.
(2)In subsection (1)—
(a)in paragraph (a) (grant by Secretary of State after consultation with Regulator), after “Regulator” insert “and the Authority”, and
(b)in paragraph (b) (grant by Regulator with consent of, or in accordance with general authority given by, Secretary of State), for the words after “consent” substitute “, or in accordance with a general authority, of the Secretary of State given after consultation with the Authority,”.
(3)In subsection (2) (general authority may require Regulator to consult, or obtain approval of, Secretary of State), for the words after “above” substitute—
“(a)shall include a requirement for the Regulator before granting a licence to consult the Authority about, or a requirement for him before doing so to obtain the approval of the Authority to, any conditions to be included in the licence which relate to consumer protection; and
(b)may include a requirement for the Regulator either to consult the Secretary of State, or a requirement to obtain his approval before granting a licence;
but a failure to comply with such a requirement shall not affect the validity of the licence.”
(4)In subsection (6) (certain licences not capable of being surrendered without consent of Regulator), for “without the consent of the Regulator” substitute “unless the Regulator and the Authority consent to the surrender”.
(5)In subsection (7) (grantor of licence to give copies)—
(a)in paragraph (a), after “Regulator” insert “, to the Authority”, and
(b)in paragraph (b), after “Regulator,” insert “to the Authority and”.
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