(1)  A permit of substantial compliance expires –

(a) if no work has been commenced under the permit, on the first anniversary of the permit being granted under section 260; or

(b) if the permit does not specify a period for which it is in effect and the period for which it is in effect is not extended, on the second anniversary of the permit being granted under section 260; or

(c) if the permit specifies a period for which it is in effect and the period for which it is in effect is not extended, on the expiry of the period specified in the permit; or

(d) if the period for which permit is in effect is extended as prescribed, on the expiry of the period so extended; or

(e) if a certificate of completion (permit building work) is issued in respect of the building work to be performed under the permit.

(2)  A permit is only valid while the permit is in effect.