34Varying licences

34 Varying licences

(1) The Regulator may, by notice in writing given to the licence holder, vary a licence. (2) Without limiting subsection (1), the Regulator may: (a) impose additional licence conditions; or (b) remove or vary licence conditions that were imposed by the Regulator; or (c) extend or reduce the authority granted by the licence (including by adding or removing the regulated activities authorised by the licence, or by adding or removing persons or classes of persons authorised to conduct regulated activities); or (d) if the licence was issued for a specified period—extend that period. (3) A licence may be varied under subsection (1): (a) on written application by the licence holder; or (b) on the Regulator’s own initiative. (4) A notice given under subsection (1) is not a legislative instrument.