39. A permit is valid for a three-year term. The Minister shall renew the permit for the same term provided its holder
(1) meets the requirements prescribed in subparagraphs 1, 5, 6 and 7 of section 38 governing the issue of permits, to the extent that they apply to the permit concerned and, where such is the case, meets the requirements for renewal prescribed by regulation;
(2) has paid the fees prescribed by regulation;
(3) has complied with this Act and the regulations during the term which is ending.
Notwithstanding the foregoing, the Minister may issue or renew a permit for a shorter term if he considers it advisable.
1987, c. 29, s. 39; 1993, c. 77, s. 5.