Period of licence
5.—(1)  A licence issued under these Rules may be taken out for a period of 6 or 12 months from the first day of the month in which such licence is issued.
(2)  The Registrar may issue a licence with or without conditions, or may refuse to issue a licence.
(3)  The Registrar may, in his discretion, issue a licence for any period less than 6 or 12 months but not less than one month.
(4)  The fees to be charged for the issue of such licences shall be as set out in the Schedule.