Sec.  78.29   License period.

   Licenses for CARS stations will be issued for a period not to exceed five
   (5) years. On and after February 1, 1966, licenses for CARS stations
   ordinarily will be issued for a period expiring on February 1, 1971, and,
   when regularly renewed, at 5-year intervals thereafter. When a license is
   granted subsequent to the last renewal date for CARS stations, the license
   will be issued only for the unexpired period of the current license term of
   such stations. The license renewal date applicable to CARS stations may be
   varied as necessary to permit the orderly processing of renewal
   applications, and individual station licenses may be granted or renwed for a
   shorter period of time than that generally prescribed for CARS stations, if
   the Commission finds that the public interest, convenience, and necessity
   would be served by such action.