4.—(1) The Authority may revoke old water supply licences(1) in accordance with arrangements set out in the qualifying scheme and on a date and time to be determined under the qualifying scheme.
(2) The qualifying scheme must include provision about the measure of compensation payable by the Authority in connection with the revocation of an old water supply licence.
(3) The qualifying scheme may make provision for the compensation payable in a particular case to be nil.
(4) In this article, “qualifying scheme” is a scheme as described in paragraph 2(3) of Schedule 11 to the 2014 Act.
“Old water supply licence” is defined in paragraph 11(1) of Schedule 11 as “a water supply licence granted under old section 17A” (of the 1991 Act).