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(2) A licence 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) The Treasury, where they grant, vary or revoke a licence, must—
(a)in the case of a licence granted to a particular person, give written notice of the licence, variation or revocation to that person, and
(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 licence, variation or revocation.
(5) Any person who, for the purpose of obtaining a licence, knowingly or recklessly makes any statement or furnishes any document or information which is false in a material particular is guilty of an offence.
(6) Any person who has done any act under the authority of a licence and who fails to comply with any conditions attaching to that licence is guilty of an offence.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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