(4)A person who holds, at the commencement of this Act, a valid licence authoring 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 and on payment of such fees, not exceeding one hundred rupees as may be prescribed) for the renewal of such licence.
