Section 8, The Borrowers and Lenders Act, 2014

(1) A registered security interest under these Regulationsshall be effective for the period of time indicated in the designated field in the registration form. (2) The period of effectiveness of a registered security interest may be extended at any time before its expiration, by the registration of an amendment form that indicates a new period in the designated field. (3) The registration of an amendment form under subregulation (2) shall extend the period of effectiveness of the registration for the period indicated in the amendment form, beginning from the time the current period would have expired if the amendment had not been registered. (4) The period of effectiveness of a registered security interest may be extended multiple times.