The Gold Control Act, 1968, 45 of 1968, (Rep., Act 18 of 1990) · III — RESTRICTIONS RELATING TO THE MANUFACTURE, ACQUISITION, POSSESSION, SALE, TRANSFER OR DELIVERY OF GOLD

Section 8. (1) Save as otherwise provided in this Act, no person shall

Repealed or not in force · As amended up to 2026-08

(3) A person— (a) may, subject to the provisions of section 16,— (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, by or otherwise receive, or (iii) 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, by or otherwise receive, or (iii) sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise dispose of, any ornament which is required 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; (4) Save as otherwise provided in this Act, no person shall sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise dispose of, any article to a person who is not a licensed dealer or refiner: Provided that a person may deliver an article to a certified goldsmith for the purpose of repairing or polishing or for the purpose of getting one or more ornaments made, manufactured or prepared therefrom: Provided further that no such sale, delivery, transfer or disposal of any article shall be made— (i) where such article is required to be included in a declaration unless such article has been included in a declaration & Rule by Act 26 of 1969, S. 2 (Retrospectively). of 1968] Gold (Control) 273 which has been duly made 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. (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. (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 with 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. CHAPTER III RESTRICTIONS RELATING TO THE MANUFACTURE, ACQUISITION, POSSESSION, SALE, TRANSFER OR DELIVERY OF GOLD 8. (1) Save as otherwise provided in this Act, 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 (iii) buy, accept or otherwise receive or agree to buy, accept or otherwise receive, Restrictions regarding acquisition, possession and disposal of gold. 4. Omitted by Act 26 of 1969, s. 2 (w. e. f. 3.7.69). Gold (Control) [ACT 45 any primary gold. (3) Save as otherwise provided in this Act, no person 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.

Source: India Code