156Effect of application for renewal on term of retention licence

156 Effect of application for renewal on term of retention licence

If: (a) a retention licence holder applies to renew the licence under section 159; and (b) the current term of the licence expires; and (c) a renewal of the licence does not take effect immediately after the current term expires; the licence remains in force after the current term expires until: (d) a renewal of the licence takes effect; or (e) a provisional renewal of the licence lapses; or (f) the application for renewal is withdrawn or refused.