Article 11 Licences

(1)

The Treasury may grant a licence to exempt acts specified in the licence from the prohibition in article 7(1) or 8(1).

(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.