31.(1) Section 28 shall have effect until the date when the municipality receives from the Corporation a notice informing it that the Corporation refuses to grant the authorization or approval applied for, or until the last day of the twelve months following the day when the authorization or approval applied for is granted, whichever of such dates is first.
Nevertheless the Corporation may extend such period for not more than six months if the municipality makes application therefor and establishes that the elaboration of the renewal program is proceeding with despatch and thereafter, for not more than a further six months if the preparation of the program is almost completed; thereafter the Corporation may also extend such period, successively for three months at a time, but for not more than one year in all, if the municipality establishes that exceptional circumstances warrant the extension applied for.
(2) Section 28 shall also cease to have effect when the territory described in the resolution is declared a “renewal zone” by the Government.
(3) Section 28 shall also cease to have effect from the date when the Corporation authorizes a municipality to reduce the territory described in a resolution adopted under section 27, but only with respect to the territory deducted.