S.L. 234.41 Art. 7Term and renewal of licence.

A licence issued in terms of regulation 6 shall be valid for a period of five years from the date of issue and, subject to the provisions of regulation 9 hereof, the Registrar-General shall, on application and on payment of the prescribed fee, renew such licence or, a licence renewed in terms of the second proviso to regulation 5, every five years for a period of five years:

Provided that a licence issued in terms of regulation 6 to a shipping organisation authorising it to carry on only the activities contemplated in article 84Z(1)(a) and (d) of the Act shall not be subject to renewal during the time such organisation is a registered owner or a registered bareboat charterer and, when that organisation ceases to be a registered owner or a registered bareboat charterer the renewal of its licence shall be governed by the second proviso to regulation 5.