Further Powers of Oft to Regulate Conduct of Licensees Etc. Section 40: Supplementary provision relating to requirements
71.Section 40 inserts a new section 33C after the new section 33B (inserted into the 1974 Act by section 39). Section 33C(3) provides that a person cannot be required under section 33A or 33B to compensate or otherwise make amends to another person. Section 33C gives OFT the power to vary or revoke requirements on its own motion or to do so on application by the person on whom the requirement has been imposed. It gives the same rights to make an application for the variation or revocation of a requirement to a person who is named in the requirement and prevented from being employed by the person on whom the requirement is imposed, or restricted as to the activities that he may engage in as an employee, or is otherwise prevented or restricted from doing something in connection with the business under the licence (an “affected person” for the purpose of these notes).