2005, No.20 Telecommunications Act 2005 157 86. Transitional Provisions for Prior Licences–Despite the provisions of this Act: (1) At any time after the commencement of this Act, the holder of an existing licence (a “prior licence”) issued prior to the coming into force of this Act may apply to the Regulator to revoke the holder‟s prior licence and apply to operate under a new licence issued in accordance with this Act. (2) If the holder or a prior licence does not apply for conversion of a prior licence in circumstances where the holder is permitted to do so under this section within 6 months after the commencement of this Act, the Regulator may issue an order revoking the prior licence and issue a new licence in accordance with this Act. (3) In all other respects, the operation of telecommunications networks and the supply of telecommunications services under prior licences shall be subject to the licencing and other requirements of this Act, and all applicable regulations, rules, orders and licensing procedures. (4) The Regulator‟s powers to grant a licence under this Act shall apply notwithstanding any law, agreement, contract, arrangement or prior licence (howsoever called) issued to a person and in existence at the time of the commencement of the Post Office Amendment Act 2004. (5) Where: (a) the Minister has granted a licence under the Post Office Act 1972 or the Post Office Amendment Act 2004; or (b) the Regulator has granted a licence under this Act; and (c) the Attorney General and the Chief Executive Officer of the Ministry of Finance have advised Cabinet in writing that the grant of such licence has adversely affected the rights of a person under an existing agreement, contract, arrangement, licence or other provision (howsoever called), Cabinet, in its absolute discretion, may authorize the provision of compensation to such person in the form of money,