(2) Where an application for a licence under the Act of 1932 is dealt with under subsection (1) and the licence is granted, the licence is deemed to be a licence granted under this Part and to be in force to a date to be determined by the Authority, which shall not be more than 2 years after the day of the next anniversary of the date of the grant of the licence under the Act of 1932 and may be renewed under section 16.".