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(1)There shall be specified in every carrier's licence the date on which the licence is to come into force (in this Part of this Act referred to as " the commencement date ").
(2)Regulations may specify the dates in the year on which carriers' licences shall expire and, subject to the provisions of this section, a carrier's licence shall, unless previously revoked, continue in force up till and including that one of the specified dates which occurs next before the expiration of the period (in this Part of this Act referred to as " the currency period") applicable to that licence in accordance with subsection (4) of this section, unless at the time of the granting of the licence the licensing authority for special reasons determines that it shall continue in force only up till and including an earlier date (being one of those specified), in which case it shall, unless previously revoked, continue in force only up till and including that date.
(3)If at the date on which a carrier's licence is due to expire, proceedings are pending before the licensing authority on an application by the holder of that licence for the grant to him of a new licence in substitution therefor, the existing licence shall continue in force until the application is disposed of, without prejudice, however, to the exercise in the meantime of the powers of suspension, revocation and curtailment conferred by this Part of this Act.
(4)The currency period shall be—
(a)in the case of an A licence, two years or such longer period as may be prescribed;
(b)in the case of a B licence, one year or such longer period as may be prescribed;
(c)in the case of a C licence, three years or such longer period as may be prescribed:
Provided that regulations may provide that, where the licensing authority is of opinion that such a course is desirable in order to arrange a suitable and convenient programme of work, he may in his discretion grant a licence for a currency period shortened to meet the requirements of that programme.
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