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 the Commissioner of Customs, as the case may be.

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

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

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

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