Commentary on provisions of the Act Licences Section 15: Transfer, variation, suspension or termination of licence
This section provides for the transfer, variation, suspension or termination of a licence under this Act.
	Under subsection (2), the regulator may only consent to the transfer of a licence if satisfied that: (a) the transfer of a licence will not impair national security; is consistent with the United Kingdom’s international obligations (of any type); and is not contrary to the national interest; (b), the new licence holder has the necessary financial and technical resources and is otherwise a fit and proper person to carry out the licensed activities; and (c) that persons performing any licensee obligations under the licence on behalf of the licensee are also fit and proper.
	By virtue of subsection (6), where the regulator is not the Secretary of State, the latter must be consulted before revocations, transfers or variations are effected.
	Subsection (7) provides that licence conditions may continue beyond the date that a licence ends.