Subject to this Part, a licence remains in force –

(a) in the case of a licence granted otherwise than by way of renewal of a licence – for a period of 21 years commencing on the day on which the licence is granted or, if a later day is specified in the licence as being the day on which the licence comes into force, on that later day; and

(b) in the case of a licence granted by way of the first renewal of a licence – for a period of 21 years commencing on the day on which the licence is granted or, if a later day is specified in the licence as being the day on which the licence comes into force, on that later day; and

(c) in the case of a licence granted by way of the renewal, other than the first renewal of a licence – for such period not exceeding 21 years, commencing on the day on which the licence is granted or, if a later day is specified in the licence as being the day on which the licence comes into force, on that later day, as the Minister determines and specifies in the licence.