§  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.