15. The provisions of a franchise, concession or licence concerning renewals or extensions following the original term are relevent in determining the life of the property and whether or not the property is for a limited period. Where such renewals or extensions are automatic or within the control of the taxpayer, that is they do not require any further negotiation with or the concurrence or consent of the grantor, the life of the property includes such additional periods....
16. Where renewal or extension periods are considered part of the life of the property under the criteria set out in ΒΆ 15 above, and where the number of such renewals or extensions is indefinite, the property is not for a limited period and does not qualify as a class 14 property. Where the number of such renewals or extensions is definite, for example, where a licence is for an initial term of 5 years and the licensee has options to renew the licence for two further 3-year periods, the property is for a limited term, in this example 11 years....
17. Provisions, including force majeure and contingency termination clauses, which may result in an early termination of the life of a property are not considered relevant in determining the life of the property and whether or not the property is for a limited period....
18. Under the Industrial Design Act, an industrial design is protected for a period of 5 years from the date of registration subject to renewal for a further period of up to 5 years. A registered industrial design is considered to be a franchise for a limited period and the life of the property on initial registration is 10 years.
