Duration of licence.

An original licence or a renewed licence in Form 25, Form 25-B or Form 25-F unless sooner suspended or cancelled shall be valid for a period of five years on and from the date on which it is granted or renewed: Provided that if the application for the renewal of a licence is made before its expiry, or if the application is made within six months of its expiry, after payment of additional fee, the licence shall continue to be in force until orders are passed on the application and the licence shall be deemed to have expired if the application for its renewal is not made within six months of its expiry.