ITAR - International Traffic in Arms Regulations 123.22(c): Retain or return licences as required

What does 123.22(c) require?

Licences issued and decremented electronically need not be returned but copies must be kept under 122.5; licences not decremented by CBP, such as oral or visual technical data releases, must be kept by the applicant; unused licences need not be returned even when expired; and revoked licences are treated as expired and handled the same way (123.22(c)).