154Discretionary conditions on licence

154 Discretionary conditions on licence (1) The Commission may, when issuing or renewing a licence, impose conditions on the licence relating to: (a) the licensee's authority to operate under the licence; and (b) the business, financial structure, assets and liabilities of the licensee. (2) If there is an inconsistency between a condition imposed by the Commission and a condition imposed by this Act or prescribed regulation, the condition imposed by this Act or prescribed by regulation prevails to the extent of the inconsistency. (3) Subject to subsection (4), a renewed licence is subject to the same conditions as the licence it replaces. (4) The Commission may vary or revoke a condition imposed under subsection (1) in accordance with the regulations.