Subject to the following provisions of this section, where the appropriate agency has formulated any proposals under section 52 above with respect to any licence under this Chapter, it may—
The appropriate agency shall not proceed with any proposals formulated under section 52 above before the end of the period specified, in accordance with subsection (7) of that section, for the purposes in relation to those proposals of subsection (6) of that section.
If no notice under subsection (4) below is given to the appropriate agency before the end of the period mentioned in subsection (2) above, the appropriate agency may proceed with the proposals.
If the holder of the licence gives notice to the appropriate agency objecting to the proposals before the end of the period mentioned in subsection (2) above, the appropriate agency shall refer the proposals to the Secretary of State, with a copy of the notice of objection.
Where the appropriate agency proceeds with any proposals under subsection (3) above and the proposals are proposals for varying the licence, the provisions of sections 38(3), 39(1) and (2) and 40 above shall apply (with the necessary modifications) to any action of the appropriate agency in proceeding with the proposals as they apply to the action of the appropriate agency in dealing with an application for a licence.