Approval of an acquisition is effective for such period as the FCA may specify in writing.
Where the FCA has specified a period under subsection (1), it may extend the period.
Where the FCA has not specified a period, the approval is effective for one year beginning with the date—
of the notice given under section 301G(3)(a);
on which the FCA is treated as having given approval under section 301G(5); or
of a decision on a reference to the Tribunal which results in the person receiving approval.