29Term of approval

29 Term of approval

(1) An approval of an organisation to conduct final assessments has effect from the day it is issued.

(2) The approval ceases to have effect:

(a) if it is revoked — on the day of revocation; or

(b) if it is not revoked — 9 months after it is issued.

(3) The holder of an approval to conduct final assessments may apply to the National Regulator for an extension of the approval.

(4) The National Regulator may extend an approval for up to 3 years from the date of issue of the approval if it is satisfied that:

(a) the organisation continues to meet the criteria in Schedule 6; and

(b) the organisation has complied with the conditions in Schedule 7.

(5) The National Regulator may, on application from the holder of the approval, make further extensions of the approval, each for up to 3 years, if the criteria mentioned in subsection (4) are met.

(6) An approval is not in effect at any time that it is suspended.