194Existing permits and licences

194 Existing permits and licences (1) A person who on the commencement day is the holder of a permit and a licence in force under the old Act in respect of a pipeline is deemed on and from that commencement to be the holder of a licence issued under this Act to construct and operate that pipeline (the **new Act licence**). S. 194(2) amended by No. 29/2006 s. 3(Sch. 1 item 27). (2) Subject to this Part, the new Act licence is deemed to be issued on the same terms and conditions as those to which the permit and the licence under the old Act were subject. (3) Despite anything to the contrary in the permit or licence under the old Act but subject to Part 5, the new Act licence is to remain in force indefinitely. (4) The new Act licence for the pipeline is deemed for the purposes of section 60 to have been issued on the commencement day if— (a) the construction of the pipeline for which the permit and licence was issued under the old Act had not commenced before the commencement day; and (b) a time for commencement of that construction is not specified in the permit or licence under the old Act. (5) The construction of the pipeline under the new Act licence is deemed for the purposes of section 61 to have commenced on the commencement day if— (a) the construction of the pipeline for which the permit and licence was issued under the old Act had commenced but was not completed before the commencement day; and (b) a time for completion of that construction is not specified in the permit or licence under the old Act. (6) If there is any inconsistency between the terms and conditions of the permit and licence under the old Act and a provision of this Act or the regulations under this Act, the provision of this Act or the regulations under this Act prevails.