169. The term of the licence is five years.
The Minister shall renew the licence for a term of one year, not more than five times, in respect of all or part of the territory for which the licence had been issued, provided the licensee.
(1) applies therefor before the date of expiry of the licence;
(2) has paid the fee prescribed by regulation;
(3) has complied with this Act and the regulations throughout the previous term of his licence;
(4) has met any other renewal requirement prescribed by regulation.
The fee shall be reduced to one-third where the applicant for the renewal is, with respect to the same territory, a licensee under another licence issued pursuant to this division for which no fee reduction has ever been granted.