Examples of Third Licence in a sentence
Waiver of the vetting requirements set out in the Third Licence insofar as they apply to members of the Ontario Teachers’ Pension Plan Board (OTPP) who do not exercise control over any aspect of the management of OTPP’s investment in Camelot given on 30 June 2010.
Waiver of requirement in regard to certain provisions in the UK Corporate Governance Code until end of Third Licence or until such time the UK Corporate Governanace Code is amended (whichever occurs sooner).
So far as not inconsistent therewith, words and expressions defined in the Third Licence shall bear the same meaning in this Licence as they have in the Third Licence.
This Licence shall have effect from 1 February 2014 and (unless suspended or revoked pursuant to the provisions of the National Lottery Act and/or the Third Licence) shall have effect until the date on which the Third Licence determines for whatever reason.
Unless the context otherwise requires the interpretation provisions contained in Condition 2 to the Third Licence shall apply to this Licence as if that condition were incorporated in this Licence.
The Third Licence commenced on 1 February 2009 and will last for 10 years.
The short point was that C6 was not known to the Commission (because it was not identified as a sub-contractor in the Camelot bid) and, although it was asserted that it was intended that C6 would continue to play the same inter-company role in respect of the Fourth Licence as they apparently play in the Third Licence, there was no documentary material to support that assertion.
Benefits: Camelot made its bid for the Third Licence on the assumption that it would be charged annual fees.
The last competition for the Third Licence to operate the National Lottery occurred in 2006-07 and Camelot was the successful bidder.
The position is summarised at paragraph 73 of Mr Haldenby’s first statement: “CUKL has no business other than operating the Third Licence and pursuing its application for the Fourth Licence, and, if its application for the Fourth Licence is unsuccessful, it will be divested of some or all of its assets and most if not all of its staff, together with their significant expertise and know how.