Duration and renewal of product licence

(1) A product licence shall be valid until the expiration date of the GMP certificate or the Certificate of Pharmaceutical Product, whichever expires first, and may be renewed on 138 Food and Drugs application by the holder of the product licence in the form set out as Form 1 and on payment of the renewal fee of fifty dollars. (2) The application for renewal of a product licence shall be made six months prior to the expiration of the product licence. (3) The competent authority shall cancel the registration of a drug if the holder of the product licence fails to submit an application for renewal within the time under subregulation (2).