(1) Save as otherwise provided in this Ordinance, no person shall—
(i) own or have in his possession, custody or control, or
(ii) acquire or agree to acquire the ownership, possession, custody or control of, or Restrictions regarding acquisition, possession and disposal of gold.
362 THE GAZETTE OF INDIA EXTRAORDINARY [PAHT II (Hi) buy, accept or otherwise receive or agree to buy, accept or otherwise receive, any primary gold.
(2) A person—
(a) may, subject to the provisions of section 17,— (I) acquire or agree to acquire the ownership, possession, custody or control of, or
(ii) buy, accept or otherwise receive or agree to buy, accept or otherwise receive, or (Hi) sell, deliver, transfer or otherwise dispose of, any ornament which is not required to be Included in a declaration;
(b) shall not,—
(i) acquire or agree "to acquire the ownership, possession, custody or control of. or
(ii) buy, accept or otherwise receive, or agree to buy, accept, buy or otherwise receive, or (Hi) sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise dispose of, any ornament which is recmired to be included in a declaration unless such ornament has been included in a declaration which has been duly made by the person who Intends to sell, deliver, transfer or otherwise dispose of such ornament.
(3) Save as otherwise provided in this Ordinance, no person, other than a licensed dealer or refiner, shall—
(a) acquire, or agree to acquire, the ownership, possession, custody or control of, or
(b) buy, accept or otherwise receive, or agree to buy, accept or otherwise receive, any article, except by succession, intestate or testamentary.
(4) Save as otherwise nrovided in this Ordinance, no person shall sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise disr>ose of, any article to a person who is riot a licensed dealer or refiner:
Provided that a person rosv deliver an article to a certified goldsmith for the purpose of petting one or more ornaments made, manufactured or prepared therefrom:
Provided further -that no such sale, delivery, transfer or disposal of pny article shall be made— (!) where such article is required to be included in a declaration unless such article has been included in a declaration SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 363 by the person who intends to sell, deliver, transfer or otherwise dispose of the same, or
(ii) where such article is not required to be included in a declaration, unless the sale, delivery, transfer or disposal thereof has been authorised by the Administrator.
(5) Notwithstanding anything contained in sub-sections (3) and
(4), a person may accept or transfer, by way of gift or exchange, gold coins, not exceeding five in number, if, together wi'th the gold coins received by way of gift or exchange, the total holding of gold coins of the donee or transferee, as the case may be, does not exceed fifty grammes.
(6) Notwithstanding anything contained in this section, the Administrator may, if he is of opinion that the special circumstances of any case or class of cases so require, authorise any person or class of persons to buy or otherwise acquire, accept, or otherwise receive, or sell, deliver, transfer or otherwise dispose of, any primary gold or article.
Restrictions on the disposal of gold acquired under any authorisation made by the Administrator.
10. (I) Every person who acquires gold under any authorisation made by the Administrator shall observe such conditions and be subject to such restrictions as may be specified therein and shall furnish to the Administrator an account of such gold, if so required by the Administrator.
(2) No person receiving, accepting, buying or otherwise acquiring gold in accordance with any authorisation made by the Administrator shall—
(i) sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise dispose of, or
(ii) expose or offer for sale, delivery, transfer, or disposal of such gold, except in accordance with such authorisation.
11. No person shall obtain from any other person any loan or advance on the hypothecation, pledge, mortgage or charge of—
(a) any primary gold, or
(b) any article or ornament which is required to be included in a declaration unless such article or ornament has been so included:
Loans not to be obtained on hypothecation of primary gold or undeclared gold.
Z6A THE GAZETTE OF INDIA EXTRiAQ&DINAKY [PAHT it
Provided that, in the case of an article which is not required to be included in a declaration, no transfer or delivery thereof shall be made unless such transfer or delivery has been authorised by the Administrator.
Prohibition regarding making, manufacturing, etc., of primary gold, articles, ornaments, etc.