A nonchampionship contest of mixed martial arts may not exceed three rounds in duration. A championship contest of mixed martial arts shall be five rounds in duration. Unless otherwise approved by the Commission, each round in a mixed martial arts contest shall be 5 minutes in duration with a 1-minute rest period between each round. The total number of rounds and the total number of mixed martial arts contests a promoter is authorized to schedule shall be subject to the approval of the Commission.