36. Substitution of Licence under Bombay Sales Tax Act, 1959 by a fresh Licence. - (1) Every Registered dealer whose Licence issued under the Bombay Sales Tax Act, 1959 (Bom. LI of 1959) (hereinafter in this section referred to as the existing Licence) is deemed to be a Licence under clause (b) of sub-section (2) of section 88 of this Act, shall obtain from the Commissioner, a fresh Licence.
(2)An application for the purpose of obtaining a fresh Licence under sub-section (1) shall be made by a dealer in the prescribed form and within the prescribed period, to the Commissioner and such application shall be accompanied by a copy of the existing Licence. The dealer shall produce the Licence held by him, together with the additional copies thereof, if any, which were issued to him, before the Commissioner when he is asked to do so.(3)On receipt of such application, the Commissioner shall, subject to the provisions of this Act, grant a fresh Licence to such dealer and endorse the fact of such grant of fresh Licence on the existing Licence and on the additional copies thereof, if any, produced before him:Provided that where the existing Licence was issued on the dealer's furnishing any security, the dealer shall be liable to furnish fresh security in accordance with the rules for obtaining a fresh Licence under this section.(4)Where the dealer fails to make an application required to be made under sub-section (2), the existing Licence shall stand cancelled from the date of the expiry of the period prescribed under sub-section (2) and the dealer shall forthwith present the same to the Commissioner for cancellation.
