1.—(1) The licensing authority and the licensee may, subject to paragraph 2 below, agree, subject to payment by the licensee to the licensing authority of the variation agreement charge, to vary any condition of a licence inserted by virtue of paragraph 5 or 6 of Part II above.
(2) Following such agreement the licence shall be varied in accordance therewith with effect from such time as payment of the variation agreement charge is received by the licensing authority or (if later) such time as is specified in the agreement.