Term and renewal of registration

Every certificate of registration of a promoter or an estate agent granted under section 21 shall be valid for a period of five years and, on the expiry of such a period, it may be renewed for another period of five years by the competent authority, on an application along with the prescribed fee, made by the promoter or the estate agent in that behalf : Provided that the conditions referred to in section 22 continue to be fulfilled and the application has been made at least three months before the expiry of the certificate of registration.