I have the same problem,

This is a known problem, there is no fix available and no release date for a
fix also.  See the ouput of my call with Tivoli :

Abstract:
TivWeb: License problem
.
System Type:
System Model:
Other related devices:
.
Operating System: AIX 4.3
Product Group: Storage Products
Fileset or Version: 4.2
.
Environment:
TSM 4.2
.
Problem Description:
Error: Server is NOT IN COMPLIANCE with license terms" after upgrading
TSM from 4.1.3 to 4.2.
The reg license command does not work :
Screen output :
tsm: VCR-TSM1>reg lic file=1mgsyslan.lic number=18
ANR2852I Current license information:
ANR2853I New license information:
tsm: VCR-TSM1>
------------------------------------------------------01/08/17-07:25--AT
UPD=
UPD=
* i had the same problem locally after upgrade 4100 to 4200
when issueing the command "lslpp -l ] grep -i tsm", the result was
tivoli.tsm.license.rte     4.2.0.0  COMMITTED
on the upgrade CD i found also the fileset "tivoli.tsm.license.cert"
after installing the result of lslpp was
tivoli.tsm.license.cert    4.2.0.0  COMMITTED
tivoli.tsm.license.rte     4.2.0.0  OBSOLETE
* reboot TSM server and was able to register licenses
* requested cst to install file set "tivoli.tsm.license.cert"
.
NACT=
WFB1
------------------------------------------------------01/08/17-07:30--CC
------------------------------------------------------01/08/17-09:55--CE
------------------------------------------------------01/08/17-09:55--CE
*** T1S2R3V4
*** T1S2R3V4
*** Electronic update by customer via Tivoli Customer Support Web
***
*** Updated by Userid: xxxx
***
***
I installed tivoli.tsm.license.cert from the 4.2 CD
Now it's possible to register licenses, but, unfortunately I can
only register 1 license for each license file ? It seems like
TSM ignores the number parameter ? Server is still not in compliance
with license terms.
tsm: VCR-TSM1>reg lic file=1mgsyslan.lic number=15
ANR2852I Current license information:
ANR2827I Server is licensed to support Managed System for LAN for a
quantity of 1.
ANR2853I New license information:
ANR2827I Server is licensed to support Managed System for LAN for a
quantity of 1.
tsm: VCR-TSM1>
------------------------------------------------------01/08/17-12:32--AT
UPD=mobile; line very bad
UPD=mobile; line very bad
NACT= st will call back
------------------------------------------------------01/08/20-06:29--AT
UPD=
UPD=
* infromed cst by mail of APAR IC30965 and that his problem will be
subscribed to this APAR
* subscribing to APAR IC30965
-SYSTEM GENERATED TEXT--5697TSMAX  -POCID=RS4 -------01/08/20-06:31--SB
------------------------------------------------------01/08/20-06:33--CC
------------------------------------------------------01/08/20-06:33--CC
>===== Original Message From "ADSM: Dist Stor Manager" <ADSM-L AT VM.MARIST DOT 
>EDU>
>===== Original Message From "ADSM: Dist Stor Manager" <ADSM-L AT VM.MARIST DOT 
>EDU>
=====
>Hi,
>
>When we want to register licenses on TSM 4.2.0.0, we can use a lic-file only
ones, so we can't get the number of licenses higher than 66 (50 + 10 + 5 + 1)
>If i open the nodelock file, i see A LOT of licenses registered, but not in
my q lic.
>
>A known problem?
>
>Tia,
>   Maurice