Section 17

(4) A person who holds, at the commencement of this Act, a valid licence authorising him to establish a refinery or to carry on business as a refiner shall, if he intends to continue such business after the expiry of the period of its validity, make, at least one month before the expiry of such period, an application (in such form & Dated by Act 26 of 1969, 5.4 (Retrospectively) OF 1968] Gold (Control) 281 and on payment of such fees, not exceeding one hundred rupees, as may be prescribed) for the renewal of such licence. (3) Every licence issued under Part XIIA of the Defence of India Rules, 1962, or under the Gold (Control) Ordinance, 1968, authorising the establishment of a refinery or carrying on of business as a refiner, shall, if in force immediately before the commencement of this Act, continue to be in force until the expiry of the period of its validity or until the cancellation thereof, whichever is earlier. (9) Every licensed refiner shall ensure that every person employed by him in the refinery complies, in the course of such employment, with the provisions of this Act or any rule or order made thereunder and of any other law relating to gold or foreign exchange for the time being in force. Refiner to make standard gold bars only. (5) A person who intends to establish or commence, after the commencement of this Act, a refinery or business as a refiner, shall make an application (in such form and on payment of such fees, not exceeding one hundred rupees, as may be prescribed) for the issue of a licence. (i) On receipt of an application for the issue or renewal of a licence under this section, the Administrator may, after making such inquiry, if any, as he may consider necessary, by order in writing, either issue or renew the licence, or reject the application for the same: Provided that no licence shall be issued or renewed under this section unless the Administrator, having regard to the following matters, is satisfied that the licence should be issued or renewed, namely:— (a) the number of refineries existing in the region in which the applicant intends to carry on business as a refiner, (b) the anticipated demand, as estimated by him, for refining facilities in that region, (c) the facilities existing in that region for the assay of gold by any method other than the touch-stone method, (d) the turnover of the applicant, if he is already carrying on business as a refiner, during two years immediately preceding the date of application for the renewal of the licence, (e) the suitability and security of the premises where the applicant intends to carry on business as refiner, and the existence therein of arrangements for the storage of gold before and after refining, (8) A person to whom a licence to carry on business as a refiner is issued under this section shall not carry on business as such refiner in the same premises in which he or any other person carries on business, whether as a dealer or otherwise, or as a money-lender or banker who lends or advances money on the hypothecation, pledge, mortgage or charge of any gold. (7) Any person to whom a licence has been issued or renewed under this section shall comply with the provisions of every law, rule, regulation or bye-law for the time being in force relating to refineries. (2) A licence issued under this section,— (a) shall be in such form as may be prescribed, (b) shall be valid for such period as may be specified therein, (c) may be renewed, from time to time, and (d) may contain such conditions, limitations and restrictions as the Administrator may think fit to impose and different conditions, limitations and restrictions may be imposed for different classes of refiners. CHAPTER VI Refiners Licensing of refiners. 17. (1) Save as otherwise provided in this Act, no person shall either establish a refinery or carry on business as a refiner unless he holds a valid licence issued in this behalf by the Administrator. (f) the existence or the probability of existence in the refinery or the proposed refinery, as the case may be, of equipment for the manufacture of standard gold bars and the quality and adequacy of such equipment, (g) the competence of the applicant to manufacture standard gold bars, (h) the existence of facilities in the refinery for the exercise of supervision and control by the Administrator or any other person authorised by him in this behalf, (i) the existence of any refinery established or run by Government, & Dec 6. by Act 26 & 1969. 3.4 (Reberger tissue). 282 Gold (Control) [ACT 45 (j) the suitability of the applicant, (k) the public interest, and (l) such other matters as may be prescribed.