SCHEDULES
SCHEDULE 7Terrorist financing and money laundering
Part 4Procedural provisions and licensing
Directions limiting or ceasing business: exemption by licence
17
1
The following provisions apply where a direction contains requirements of a kind mentioned in paragraph 13 (limiting or ceasing business).
2
The Treasury may grant a licence to exempt acts specified in the licence from those requirements.
3
A licence may be—
a
general or granted to a description of persons or to a particular person;
b
subject to conditions;
c
of indefinite duration or subject to an expiry date.
4
The Treasury may vary or revoke a licence at any time.
5
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 notice of the grant, variation or revocation to that person;
b
in the case of a general licence or a licence granted to a description of persons, take such steps as the Treasury consider appropriate to publicise the grant, variation or revocation of the licence.