(1) A licence is in force for the period specified in the licence. The initial period must not be more than 3 years.
(2) The licensee may apply, in writing, for the period of the licence to be extended.
(3) If a licensee applies in accordance with subsection (2) the Authority may, by notice in writing given to the licensee, grant an extension, with the period of each extension being not more than 3 years.