Unfortunately not as simple as that. There has been an agreed limit in place since 1985 that gives the operators ( I believe ) 2 noisy days, 3 quiet running days, and 2 days closed per week. It seems that they have been slowly exceeding it.
The circuit has been used more and more over the last few years and (anecdotally) the level of the noise has got louder. There have been all sorts of accusations of incompetence and wrong doing between MPML, the Council and the villagers. Slanging matches in the media and on social media. It has turned disappointingly ugly so some of the basic facts are lost in the bitterness and backbiting.
I have friends that live in the village and others who have businesses located in the workshops at Mallory. They have lived there for as long as I can remember, so are not new-to-the-area-nimbys, and some of them are proper petrol-heads too, but even they have started to question how the track is being used. My brother (car lover and former Mallory/BARC marshal ) lives in the next village a couple of miles away. He has always quite liked the sound of the track in the distance, and can usually tell you what is racing just from the sound, but he has acknowledged that the sound "is different" these days. Louder : maybe? higher pitch : perhaps? More annoying: possibly ?
IMHO, in the past when Mallory ran a few days over it's agreed limit for "noisy days" nobody noticed. I bet nobody even counted. Traffic was never a big problem and everything seemed to run happily. But when they started getting louder, more frequent and later at night, someone asked the inevitable question and opened the can of worms. To keep the company in the black MPML ran more events, and more varied events. I have heard that for some residents the last straw was a recent event ( drift day ??) that went on late into the night and gridlocked the village with visitors doing doughnuts and p'ing about on the public roads.
The bottom line : a sad day when a track I grew up with is closing, but they were not playing by the rules.
Tim