s 5B Grant of a licence
(1) Notwithstanding subsection 5A(2) or (3), the Registrar may, upon receiving an application for a licence under subsection 5 A(1), grant or refuse to grant the licence to the applicant, and the Registrar shall inform the applicant of his decision. (2) The licence shall be in such form as may be prescribed. *(3) The applicant shall pay the prescribed application fee for the licence to the Registrar upon being informed by the Registrar of the approval of his application for the licence. Duration of licence 5 C. (1) Subject to section 9D and subsection (3), a licence shall, unless sooner revoked, be valid for a period not exceeding two years. (2) Where a licence is granted, the Registrar shall specify in the licence the date on which the licence is to come into force and the date of its expiry. (3) Where on the date of expiry of the licence, an application for the renewal of the licence under section 5E is pending before the Registrar, that licence shall remain in force until the application is disposed of, or sixty days after the date of expiry of the licence, whichever is the earlier.