(1) Any person desirous of establishing an E-trading platform under section 5F shall apply to the Director or the Officer authorized by him in such form and manner along with such fee, security or bank guarantee and fulfilling such conditions, as may be prescribed.
(2) The application received under sub-section (1) for grant or renewal of licence may be accepted or rejected for reasons recorded in writing by the licensing authority:
Provided that, the application received under this section shall be liable to be rejected on the reasons mutatis mutandis to the reasons laid down in respect of private market under clause (c) of sub-section (3) of section 5D.
(3) The E-trading platform managed and operated by a person or the State Government or the Government Agencies, as the case may be, shall provide all infrastructures and service connected to E-trading, as may be prescribed.
(4) The licensee or its agency may collect user charge on the services provided, which shall be notified by such licensee on its website:
Provided that, the Government may, in the public interest, from time to time, by notification in the Official Gazette, put ceiling on the rate of user charge.