(1) A retention
licence comes into force on —
(a) the
day on which the grant of the licence is registered; or
(b) if a
day later than the day on which the grant of the licence is registered is
specified in the licence as its commencement day, that specified day.
(2) The initial term
of a retention licence expires at the end of the period specified in the
licence under section 146(1).
Note:
1. For the maximum
initial term see section 146(2).
2. The licence may be
surrendered at any time (see section 187).
(3) The period runs
from —
(a) the
day on which the licence is provisionally granted; or
(b) if a
day later than the day on which the licence is provisionally granted is
specified in the licence as its commencement day, that specified day.