38Matters to be included in licence

38 Matters to be included in licence

(1)  A licence must –

(a) state the name of the regulated entity that holds the licence; and

(b) state the regulated activities that are authorised by the licence (including, where relevant, the geographic location in which those activities may be conducted); and

(c) contain the licence conditions and such other conditions as may be prescribed by the regulations.

(2)  A licence may specify an area in which the regulated entity is to be the reserve supplier if the regulated entity is declared to be a reserve supplier under section 49 .

(3)  The area specified in subsection (2) may be within the area of operations of more than one regulated entity, whether the respective licences relate to the same or different regulated activities.