The ICMA has provided us with the following announcement:
Effective January 1, 2017 candidates are no longer required to register for a CMA exam part within 12 months of paying the CMA Entrance Fee.
Candidates are still required to pass both parts of the CMA exam within three years of paying the CMA Entrance Fee. If a candidate does not pass both parts within three years, any passed part will expire. In addition, the candidate will be required to pay the CMA entrance fee again.