(1) The prohibitions in regulations 3 to 7 do not apply to anything done under the authority of a licence granted by the Treasury.
(2) A licence must specify the acts authorised by it and 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) On the grant, variation or revocation of a licence, the Treasury must -
(a) in the case of a licence granted to a particular person, give written notice of the grant, variation or revocation to that person,
(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 grant, variation or revocation of the licence.
(5) A person commits an offence who, for the purpose of obtaining a licence, knowingly or recklessly -
(a) provides information that is false in a material respect, or