6 Duration of the licence
1 Subject to paragraph (2) below, the Secretary of State shall ensure that—
(a) a licence only grants an entity exclusive rights for the period which is necessary for the proper performance of the activities authorised by the licence; and
(b) the duration of the licence does not exceed the period necessary to carry out the activities authorised by the licence.
2 The Secretary of State may extend the term of a licence if—
(a) the terms and conditions of the licence permit an extension of the term;
(b) the licensee has performed its obligations in accordance with the terms and conditions of the licence; and
(c) the term of the licence has proved, or is likely to prove, insufficient for the licensee to complete the activities authorised by the licence.