Yes, it's 2 hours a year on type. If you don't do two hours, your LPC (which is annual) would probably take 2 hours so ... However, if you don't do your LPC within the year, the rating will expire and will have to be revalidated. This would normally involve training as required to pass an LPC.
LPCs are conducted by any typr rating examiner.
All JAA licence, rotary or fixed wing have to be renewed every five years. I've just renewed my PPL; £67 for some new laser printed sheets with a signature on! Not even a new placky wallet!
I would recommend you download LASORS and save it to your PC rather than access it online.
Cheers
Whirls