62Duration of approval

#### 62 Duration of approval 62 Duration of approval > > (1) A manager approval may be granted for a fixed term or for no fixed term. > > > (2) If a manager approval is granted for a fixed term, the approval remains in force for the term specified in the approval, unless sooner surrendered or revoked or it otherwise ceases to be in force. > > > (3) If a manager approval is granted for no fixed term, the approval remains in force until it is surrendered or revoked or it otherwise ceases to be in force. > > > (4) In any case, a manager approval is taken not to be in force for the purposes of this Act during any period in which it is suspended. > > > (5) An approved manager may, by notice in the approved form given to the Secretary and accompanied by the manager approval, voluntarily surrender the approval. Any such surrender takes effect on the day on which the notice is given to the Secretary.