38.4(1)A lien referred to in subsection 38.1(6) ceases to be valid after the expiration of five years from the date of the filing of the certificate under subsection 38.1(4) unless before the expiration of that period the Director causes a renewal statement in the form prescribed by regulation to be filed with the registrar of deeds for the county or counties in which the certificate is filed.

38.4(2)The registrar of deeds shall file the renewal statement and shall index it in the appropriate registration index.

38.4(3)A lien renewed in accordance with subsection (1) shall not be further renewed and ceases to be valid after the expiration of five years from the date of the filing of the renewal statement.

38.4(4)A registration under subsection 38.1(6.1) is effective for the period of years, not exceeding ten years, that is specified in the registration.

38.4(5)A registration that is effected for a period of less than ten years may be renewed, at any time before the registration expires, for the period of years specified in the registration by which the renewal is effected, but the registration shall not have an aggregate registration life of more than ten years.