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12.—(1) Subject to sub-paragraph (2) below, section 30(2) of the 1995 Act shall not have effect in relation to an existing licence, but in relation to such a licence, the periods of review for the purposes of the 1995 Act are—
(a)the period—
(i)beginning with the date specified in the licence as the date on which it came into force, and
(ii)ending at the end of the last day that the licence would have continued in force by virtue of section 67(2) of the 1968 Act had neither the Deregulation and Contracting Out Act 1994(1) nor the 1995 Act been passed; and
(b)each consecutive period of five years.
(2) Sections 30, 31 and 32 of the 1995 Act shall not have effect in relation to a licence to which paragraph 2 or 3 above applies.
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