(1)A licence may be granted to a company authorising it to provide air traffic services in respect of a managed area.
(a)may be granted in respect of air traffic services of one or more specified descriptions;
(b)may be granted in respect of one or more specified areas (any of which may consist of all or part of a managed area).
(3)A licence is not valid unless it is in writing.
(4)A licence is not valid unless it is granted to a company which is—
(a)limited by shares and formed and registered under the [1985 c. 6.] Companies Act 1985 or the [S.I. 1986/1032 (N.I. 6).] Companies (Northern Ireland) Order 1986, or
(b)an existing company within the meaning given by section 735(1) of the [1985 c. 6.] Companies Act 1985 or Article 3 of the [S.I. 1986/1032 (N.I. 6).] Companies (Northern Ireland) Order 1986.
(5)A licence continues in force for the period specified in it or determined by or under it, unless it previously ceases to have effect in accordance with its provisions.
(6)A licence may not be transferred.