- A licence shall be valid from the date on which it is granted to the [31st of day of December] [These figures, letters and words were substituted for the figures, letters and words '31st day of July' by Gujarat 44 of 1963, section 4 (i).] following:[Provided that when an application for renewal of a licence has been received by an Assistant Registrar within the prescribed period, the licence shall, until the application is finally disposed of, be deemed to be valid:] [This proviso was added by Bombay 50 of 1959, section 4 (g).][Provided further that a licence subsisting on the commencement of the Bombay Money-lenders (Gujarat Amendment) Act, 1963 (Gujarat XLIV of 1963) shall, subject to the other provisions of this Act, be valid up to the end of December 1964.] [This proviso was inserted by Gujarat 44 of 1963, section 4 (ii).]
