(1) A licence (other than a renewed licence) comes into force on the date
specified in the licence.
(2) A renewed licence comes into force on the date
following the expiry date of the licence it renews.
(3) An application for a
licence or renewal of a licence is to nominate one of the following terms of
duration for the licence (the
"nominated term" )--
(3B) If an
application for renewal of a licence has been made but the application is not
finally determined by the Secretary before the expiry of the licence, the
licence (if not suspended or sooner cancelled) continues in force until the
application is finally determined.
(3C) If a licence is granted or renewed
for a shorter term than the nominated term, the Secretary is to refund to the
applicant the difference between the fee for the nominated term and the fee
for the term that was granted.
(4) A licence suspended under this or any
other Act is taken not to be in force for the purposes of this Act during the
period of the suspension. However, the suspension of a licence does not affect
the term of the licence.