- A licence granted under sub-rule (1) of rule 36 shall remain valid in perpetuity, unless, it has been canceled or surrendered, provided the authorized agent deposits the licence retention fee with the Central Licensing Authority as specified in the Second Schedule for each overseas manufacturing site and for each licenced medical device after completion of every five years from the date of its issue:Provided that the Central Licensing Authority may permit to deposit the licence retention fee after due date but before expiry of ninety days with a late fee calculated at the rate of two per cent. per mensem:Provided further that if the licencee fails to deposit the licence retention fee within the above stipulated period, the licence shall be deemed to have been canceled.
