(1) The Administrator may, if he has any reasonable cause to believe that the holder of any licence or certificate issued, renewed or continued under this Ordinance has made any statement in, or in relation to, any application for the issue or renewal of a licence or certificate under this Ordinance which is incorrect or false in material particulars or has contravened any provisions of Part XIIA of the Defence of India Rules, 1962, or of this Ordinance or any rule or order made thereunder or of any other law for the time being in force which prohibits, restricts or regulates the bringing into or taking out of India of any goods [including coins, currency (whether Indian or foreign) and foreign exchange] or the carrying, removing, depositing, harbouring, keeping, concealing, selling or purchasing such goods or the making of any payment in relation to such goods,—
(i) suspend such licence or certificate, as the case may be, pending the completion of any inquiry or trial against the holder of such licence or certificate, as the case may be, for such contravention, or
(ii) cancel such licence or certificate, as the case may bt# Sac. 1] tfHE GA^ETtffi OF INDIA EkT&AOROlNARY 38$
Provided that no such licence or certificate shall be cancelled unless the holder thereof has been given a reasonable opportunity of showing cause against the proposed action.
(2) Every person whose licence or certificate has been suspended shall, immediately after such suspension, stop functioning as such licensee or holder, of such certificate and shall not resume business as such licensee or holder of such certificate until the order of such suspension has been vacated.
(3) Every person who holds a licence or certificate which is suspended or cancelled shall, immediately after such suspension or cancellation, surrender such licence or certificate, as the case may be, to the authority by which such licence or certificate was issued.
Cancellation of licence or certificate on application by dealer, refiner or certified goldsmith.
52. A licensed dealer or refiner or a certified goldsmith who discontinues, or intends to discontinue, business as such dealer or refiner or certified goldsmith, may make an application to the Administrator for the cancellation of his licence or certificate, as the case may be, and thereupon the Administrator may cancel the licence or certificate which was issued or renewed to such dealer or refiner or certified goldsmith.
53, Whore any firm has been licensed undei this Ordinance to carry on business as a dealer or refiner, such licence shall, notwithstanding anything contained in this Ordinance, become invalid on and from the date on which there is a change in the partnership of such firm, unless such change in the partnership has been approved by the Administrator.
Licence to a firm to be invalid if there ii any change in the partnership of a firm.
54. Where the period of validity of any licence issued to a dealer or refiner or a certificate granted to a certified goldsmith has expired or where any application for the renewal of such licence or certificate, as the case may be, has been rejected, or where such licence or certificate has been cancelled, such dealer, refiner or certified goldsmith, as the case may be, shall, within thirty days from the date of such expiry, rejection or cancellation,— Disposal of gold in the possession of licensed dealers, refiners and certified goldsmiths in certain cases.
(i) sell or otherwise transfer to any other licensed dealer or refiner the entire quantity of gold (other than ornaments) in his possession, custody or control on the date of such expiry, rejection or cancellation, as the case may be, and send Intimation thereof to the Administrator; and 386 THE GAZETTE OF INDIA EXTRAORDINARY [PART It
(ii) either sell or otherwise transfer or take over as personal property any ornament which is in his possession, custody or control on the said date.
Display of licences.
55. Every licensed dealer and every licensed refiner shall display his licence at a conspicuous place of the premises in which he carries on business as a licensed dealer or refiner.
CHAPTER XI ACCOUNTS AND RETURNS Aocounts. 56. (i) Every licensed dealer, every licensed refiner and every certified goldsmith shall keep, in such form and in such manner as may be prescribed, a true and complete account of the gold owned, possessed, held, controlled, bought or otherwise acquired, accepted or otherwise received, or sold, delivered, transferred or otherwise disposed of, by him in his capacity as such licensed dealer or refiner or certified goldsmith, as the case may be, and different forms of accounts may be prescribed for different classes of licensed dealers, refiners or certified goldsmiths.
(2) Every licensed dealer, every licensed refiner and every certified goldsmith shall as and when he buys or otherwise acquires or accepts or otherwise receives, or sells, delivers, transfers or otherwise disposes of, any gold, enter in the accounts referred to in subsection (2) the prescribed particulars of such gold and the prescribed particulars of the person from whom such gold was bought, acquired, accepted or otherwise received or to whom such gold was sold, delivered, transferred or otherwise disposed of.
(3) No licensed dealer or refiner and no certified goldsmith shall, in his capacity as licensed dealer or refiner, either own or have In his possession, custody or control any gold which has not been included in the accounts referred to in sub-section (/).
Returns as to gold.