Chapter – 4

Chapter – 4 Renewal, Amendment and Transfer of License
12. Validity and Renewal of License:

(1) Subject to Sub-section (1) of Section 25 of the Act the validity of a License shall be as follows:
(a) Five years validity for a License to be issued pursuant to Sub-rule (5) of Rule 10,
(b) Period as prescribed in the License to be issued pursuant to Sub-rules (1), (2) and (6) of Rule 10.
(2) The Licensee who intends to renew the License shall submit an application to the Authority, accompanied with the renewal fee which he/she has undertaken for the License obtained pursuant to Sub- rules (1) and (2) of Rule 10, the renewal fee as prescribed in Schedule – 7 for the renewal of the License obtained pursuant to Sub-rule (5) and
(6) of Rule 10, ? Three months in advance of the expiry of the validity period of the License.
(3) A Licensee who does not renew the License within the time limit referred to in Sub-rule (2) submits an application, setting out the appropriate reasons for failure to renew the License, to the Authority for the renewal of the License within the time frame of License, and if the reasons are found to be appropriate, the Authority may renew the License upon charging an additional fee at the rate of Fifteen percent of the renewal fee.
(4) A Licensee who fails to renew License even within the time limit referred to in Sub-rule (3), such License shall not be renewed.

13. License may be Amended:

(1) The Licensee who deems it necessary to amend any matter mentioned in a License shall submit an application
to the Authority in a format as referred to in Schedule-8, setting out the reasons for such amendment.
(2) If any application is received pursuant to Sub-rule (1), the Authority shall make necessary inquiry and in making inquiry the reasons given for amendment to the License are found appropriate and proper, and if the basic matters contained in the License are not to be altered, shall amend the License upon charging Fifteen thousand rupees
as a fee.

14. Sale or Transfer of License:

(1) A person who desires to give or receive a License by conveying the title by way of sale or otherwise shall have to make a joint application to the Authority in a format referred to in Schedule -9 for approval, setting out the mutually settled terms and restrictions.
(2) If an application is received pursuant to Sub-rule (1), the Authority shall make necessary inquiry and upon making inquiry if it deems necessary to obtain additional information or description, the Authority may request for additional description or information from the applicant.
(3) If it deems appropriate on the basis of the application and the documents attached with the application received under Sub-rule (1) as well as the additional information or description requested pursuant to Sub-rule (2), the Authority shall transfer of title to the License by way of sale or otherwise, issue approval to transfer the License by way of sale or otherwise upon charging Five percent of the License fees from the applicants.