An email alert from DVSA advises that from 8 June 2015 the paper counterpart will no longer be valid and will no longer be issued by DVLA.
You can find a little more information here, but basically from that date you can tear up your counterpart. Those who still have the old paper-style licences from pre-1998 should not destroy them.
DVSA says it will have more information on the run up to the abolition date on how this affects ADIs and learners.
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