(c)The approval so granted shall, unless suspended or cancelled, remain valid for a period not exceeding five years and on being satisfied with the performance of FTO during this period, the Director-General may renew the approval for a [period not exceeding five years] [Substituted for 'period of two years' by Notification No. G.S.R. 289(E), dated 08.04.2022 (w.e.f. 23.03.1937).] at a time on payment of a fee of one lakh rupees, subject to such terms and conditions as may be specified by the Director-General: