Section 101(2)

A licence is deemed to have been issued by the Secretary of State on IP completion day under regulation 65 (trade licences)— disapplying every provision of Part 5 (Trade) which would, in the absence of this paragraph, prohibit any act authorised by the existing trade licence, and otherwise in the same terms as the existing trade licence.

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Source: legislation.gov.uk · retrieved 2026-08-30