34. A distribution may be extended for a further 12 months if(1) a prospectus containing the information and certificates prescribed by regulation and accompanied with the documents prescribed by regulation is submitted at least 30 days before the lapse of the term specified in section 33;
(2) a prospectus accompanied with the documents prescribed by regulation is submitted within 10 days after the lapse of the term specified in section 33;
(3) a receipt for the prospectus is obtained from the Commission within 20 days after the lapse of the term specified in section 33.
The distribution may be continued, notwithstanding section 33, until the decision of the Commission as to the new receipt, provided that the time limits prescribed in subparagraphs 1 and 2 of this section are observed.
However, any additional year runs from the lapse of the term specified in section 33.