.-(1) Where on any application for a prospecting license an order has been made for the grant of such license, a deed granting such license shall be executed within ninety days of the date of the communication of the order or such further period as the State Government may allow in this behalf, and if no such deed is executed within the said period due to any default on the part of the applicant, the State Government may revoke the order granting the license and in that event the fee paid shall be forfeited to the State Government.(2)The deed referred to in sub-rule (1) shall be in Form F, or in a form as near thereto as circumstances of each case may require.(3)The date of the commencement of the period for which a prospecting license is granted shall be the date on which the deed is executed under sub-rule (1).[15-A. [ Inserted by G.S.R. 31(E), dated 22.1.2001 (w.e.f. 22.1.2001).]Where on an application for grant of sanction to transfer the prospecting license under clause (vii) of sub-rule (1) of rule 14, the State Government has granted sanction for transfer of such license, a transfer deed in Form P, or a form as near thereto as possible shall be executed within three months of the date of the consent, or within such further period as the State Government may allow in this behalf.]
