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What are the essential differences between an apparatus licence and a spectrum licence?

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What are the essential differences between an apparatus licence and a spectrum licence?

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An apparatus licence authorises the operation of an individual device or type of device or devices at a particular location or locations and with specified output characteristics to deliver an approved service. Apparatus licences are generally purchased over the counter for a fixed fee for a maximum of 5 years and the licensee has no legal right to trade the licence. Apparatus licensees may only transfer (sell) their licence to other operators with the prior approval of the ACMA. However, in practice, apparatus licensees trade their licences whenever they wish, as the ACMA encourages licence trading. A spectrum licence authorises the operation of a device or devices within a defined spectrum space (geographic area and frequency band) provided the devices deployed in the spectrum space comply with their licence conditions and the technical framework established by the ACMA for the band. Spectrum licences expire after 15 years but licensees have the right to trade their licence in whole

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