Document ID: chunk:federal_register_of_legislation:C2024C00638:section:154
Version: federal_register_of_legislation:C2024C00638
Segment Type: section
Provision Reference: s 154
Character Range: 166621–167424

154  Initial term of retention licence
 (1) A retention licence comes into force on:
 (a) the day on which the grant of the licence is registered; or
 (b) if a day later than the day on which the grant of the licence is registered is specified in the licence as its commencement day—that specified day.
 (2) The initial term of a retention licence expires at the end of the period specified in the licence under subsection 146(1).
Note 1: For the maximum initial term see subsection 146(2).
Note 2: The licence may be surrendered at any time (see section 187).
 (3) The period runs from:
 (a) the day on which the licence is provisionally granted; or
 (b) if a day later than the day on which the licence is provisionally granted is specified in the licence as its commencement day—that specified day.