(1) The investor should start implementing the project within the period mentioned in the contract.
(2) If there is a reasonable reason for which the project cannot be started within the period as per sub-rule (1), the related investor may file an application before the Board to extend the period without payment of such period.
(3) If the application is found to be unreasonable for submitting the application according to sub-rule (2), the board may extend the appropriate period for starting the project implementation.
(4) If the application is not given as per sub-rule (2) or if the board does not extend the period as per sub-rule (3), such permit shall automatically be cancelled.