Regulation 8. Surrender of licence

Official text

Regulation 8. Surrender of licence. —

(1) A licensee may surrender the licence granted to him by making a request in writing to the Principal Commissioner of Customs or Commissioner of Customs, as the case may be.

(2) On receipt of the request under sub-regulation (1), the Principal Commissioner of Customs or Commissioner of Customs, as the case may be, may cancel the license if, -

(a) The licensee has paid all the monies due to the Central Government under the provision of the Act, rules or regulations made thereunder;

(b) no warehoused goods remain deposited in the private warehouse or are deposited in the private warehouse from the date of request referred in sub-regulation (1); and

(c) no proceedings are pending against the licensee under the Actor the rules and regulations made thereunder.