Renewal of registration

(1) Renewal of registration shall be made on payment of the prescribed annual fee. (2) Renewal of registration shall be made not later than thirty days after the date of expiration of the last certificate. (3) On application of the foundation council in accordance with Schedule IV, and payment of the prescribed fee, the Registrar may extend the period to renew the registration for an Schedule IV. 32 additional ninety days, if satisfied that there is a good explanation for the delay in renewal of the registration. (4) Every renewal of registration shall take effect from the date of expiration of the last certificate and shall be valid for one year. (5) Where renewal of registration is not made within thirty days after the date of expiration and the Registrar has not extended the period of renewal, a member of the foundation council may make an application to the Registrar through the registered agent accompanied by the prescribed fee, for the reinstatement of the foundation, in accordance with Schedule V, within one hundred and eighty days after the date of expiration of the last Certificate. Schedule V. (6) This Act ceases to apply to a foundation ninety days after the expiration of its Certificate of Establishment unless the Registrar extends the renewal period, in which case this Act ceases to apply to the foundation one hundred and eighty days after the expiration of its Certificate of Establishment, and the Registrar shall then mark the Register entry of the foundation as cancelled, unless such Certificate is renewed or reinstated. (7) All fees payable under this section are non-refundable and are not contingent on the approval of any application.