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(1) Subject to conditions prescribed by Regulations made under this Act, the Council may, upon giving reasonable written notice to a scheme,

(a) vary or revoke any condition of a licence; or

(b) impose new conditions.

(2) A scheme may apply to the Council in writing for a condition of a licence to be revoked or varied.

(3) Where, on an application made under subsection (2), the Council is satisfied that the condition for a licence is no longer necessary or should be varied, it may revoke or vary the condition.

(4) Where the Council revokes or varies a condition for a licence or imposes a new condition, the scheme shall deliver its licence to the Council for the licence to be varied accordingly.