The Commission may determine that operating licences, or a specified class of operating licence, shall cease to have effect at the end of a specified period (unless terminated earlier in accordance with section 113, 114, 115 or 119).
The period specified under subsection (1)—
in the case of an operating licence issued after the determination, must begin with the date on which the licence is issued, and
in the case of an operating licence issued before the determination, must begin with the date of the determination.
The Commission—
may determine different periods under subsection (1) for operating licences authorising different classes of activity (but may not otherwise determine different periods for different licences),
may alter a determination under subsection (1) (but an alteration shall have effect only in relation to licences issued after the alteration), and
may revoke a determination under subsection (1) (in which case the determination shall cease to have effect in relation to licences already issued).
The Commission shall publish any determination under subsection (1) as part of a statement (or revised statement) under section 23.