(1) A restraining order made in respect of a foreign serious offence as a result of an application under subsection 34K(1) ceases to have effect:
(a) at the end of the period of 30 days commencing on the day on which the order is made; or
(b) if the court that made the restraining order, on application made by the proceeds of crime authority authorised under section 34J before the end of the period referred to in paragraph (a), extends the period of operation of the order--at the end of the period as so extended.
(2) However, the restraining order ceases to have effect upon the registration of a foreign restraining order against the property under Subdivision A if that registration occurs before the end of the period referred to in paragraph (1)(a) or (b) (as the case requires).