62. Admission of partners in case of existing manufacturer.
(1)In case the existing manufacturer having a license in Form IX under the Arms Rules, 1962 is a partnership firm, additional partners may be admitted in case of death of a partner wherein legal heirs of the deceased partner may be admitted as a partner or partners in the firm subject to prior approval of the Central Government in the Ministry of Home Affairs.(2)An existing partner, during his life time, may induct his legal heirs as an additional partner under this rule, on obtaining written consent of all other existing partners, if any, in the partnership firm subject to prior approval of the Central Government in the Ministry of Home Affairs.
