(3)Every licence issued under Part XII-A of the Defence of India Rules, 1962, under the Gold (Control) Ordinance, 1968 (6 of 1968), authorising the commencement or carrying on of business as a dealer, 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.
