- A registration granted under sub-rule (3) of rule 83 in Form MD-40, shall remain valid in perpetuity, unless, it is suspended or canceled, provided the registration holder deposits a registration retention fee to the Central Licensing Authority as specified in the Second Schedule after completion of every five years from the date of its issue:Provided, that the Central Licensing Authority may permit to deposit the registration retention fee after due date but before the expiry of six months with a late fee at the rate of two per cent. per mensem or part thereof:Provided further that, if the registration holder fails to deposit the registration retention fee within the above stipulated period, the registration shall be deemed to have been canceled for all purposes.
