From FCL.010 Definitions:
— "Renewal" (of, e.g. a rating or certificate) means the administrative action taken after a rating
or certificate has lapsed for the purpose of renewing the privileges of the rating or certificate
for a further specified period consequent upon the fulfilment of specified requirements.
— "Revalidation" (of, e.g. a rating or certificate) means the administrative action taken within the
period of validity of a rating or certificate which allows the holder to continue to exercise the
privileges of a rating or certificate for a further specified period consequent upon the fulfilment
of specified requirements.
This does not provide a clear solution for the debate, but what it does explain:
- After the period of validity has ended, the rating or certificate has lapsed, and it is the privileges that need to be renewed. It does not state that you need to reobtain said rating, which I assume to be the case once you are no longer the holder of a rating.
- Revalidation includes a reference to the holder, but it is the privileges that you continue to be able to exercise through this revalidation.
- These definitions do not say that you do not hold a rating anymore after it has lapsed.
Hope this helps...