(3) Where the licensee is a body corporate or other legal person, a change in ownership of the licence of fifty per cent or more, or a change in the control of management is considered to be a transfer of the licence, and shall be subject to the prior consent of the Authority. (4) The Authority shall consult the Minister before granting or refusing approval or giving consent, as the case may be, under this section. Term and renewal of licences 25. (1) Unless sooner terminated as specified in the Regulatory Authority Act and this Act, any relevant law or otherwise stated in the licence, an individual or class licence granted pursuant to this Act shall be for such period as is specified in it and may be renewed. (2) An application for the renewal of a licence shall be made to the Authority(a) in the case of a licence that has a term of ten years or more, not later than twelve months before the expiration of the licence; and (b) in any other case, not later than six months before the expiration of the licence being renewed. (3) A licensee who fails to apply to renew its licence or whose application for renewal is rejected by the Authority shall, immediately on the expiration of the term of the licence, cease to operate the information and communications system or provide the information and communications service for which the licence was granted. Modification of licences 26. (1) Subject to this Act and any regulations made under it, the Minister shall, on the advice of the Authority, modify a licence granted under this Act if the modification is permissible under the terms of the licence or is required in the public interest. 47