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(1) Subject to subregulation (2), an individual licence shall be valid for a period of ten years from the date of grant of the individual licence unless the individual licence is cancelled by the Minister before its expiry.

(2) Where a licence granted under the repealed Acts for a similar activity or service has a residual licence term exceeding ten years from the date of grant of an individual licence, the validity period of that individual licence shall be equivalent to the residual term of the licence granted under the repealed Acts.

(3) [Deleted P.U.(A) 144/2005]

(4) An application for the renewal of an individual licence shall be made not later than sixty days before its expiry in Form A as set out in Third Schedule and shall be accompanied by such information that the Commission may require.

(5) An application for the renewal of an individual licence under subregulation (4) shall be accompanied by the renewal fee as set out in Table A of the First Schedule.