123Expiry of approval in principle

123 Expiry of approval in principle (1) An approval in principle expires— (a) on the third anniversary of the day on which the approval in principle was granted; or (b) if the approval in principle is extended under section 124, on the day determined by the Regulatory Authority in accordance with that section. (2) Despite subsection (1), if an application for extension is made under section 124 before the expiry of the approval in principle, the approval in principle does not expire before the application for extension is determined by the Regulatory Authority. (3) Despite subsection (1), if an application for service approval is made before the expiry of the approval in principle, the approval in principle does not expire before the application for service approval is determined by the Regulatory Authority. New Sch. s. 124 inserted by No. 33/2023 s. 8.