Commentary on provisions of the Act Licences Section 14: Licences granted for specified periods
Subsection (1) permits the regulator to grant a licence for a specified period of time.
	Subsection (2) provides for the renewal of a licence for a further specified period.
	Subsection (3) provides that if the regulator is not the Secretary of State, then the regulator must consult the Secretary of State before renewing a licence.
	By subsection (4), the provisions of the Act which apply to the grant of a licence also apply to the renewal of a licence.