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In conext of a likely move that may lead to cancellation of SEZ zones for nine famous firms in India, consider the following statements around SEZ rules:

A. The formal approval is valid for a period of three years

B. By the end of this period, at least one unit has to commence production and the zone becomes operational from the date of commencement of such production 

C. There is no provision for extension of this formal approval

Which amongst these statements is/are true? 

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