29Term of permit

#### 29 Term of permit (1) Subject to this Part, a permit remains in force: (a) in the case of a permit granted otherwise than by way of the renewal of a permit for a period of 6 years commencing on the day on which the permit is granted or, if a later day is specified in the permit as being the day on which the permit is to come into force, on that later day; and (b) in the case of a permit granted by way of the renewal of a permit—for a period of 5 years commencing on the day on which the permit is granted or, if a later day is specified in the permit as being the day on which the permit is to come into force, on that later day. Extension of permit in respect of block included in location when lease or licence applied for (2) If: (a) a permit in respect of a block or blocks cannot be renewed or further renewed; and (b) before the time when the permit would, apart from this subsection, expire, the permittee has duly made an application to the Designated Authority for the grant by the Joint Authority of a lease or licence in respect of the block, or one or more of the blocks, being a block or blocks that are included in a location; the permit continues in force in respect of the block or blocks to which the application relates until: (c) if the Joint Authority tells the permittee that it is prepared to grant to the permittee a lease or licence in respect of the block or one or more of the blocks—such a lease or licence is granted, the permittee withdraws the application or the application lapses; or (d) if the Joint Authority decides not to grant to the permittee such a lease—the end of the period of one year after the day of the service under subsection 38B(2) or (2A) of the instrument or notice refusing to grant the lease; or (e) if the Joint Authority decides not to grant to the permittee such a licence—notice of the decision is served on the permittee.