Section 20(2) in The Punjab Agricultural Produce Markets (General) Rules, 1962
(2)(a)Where the licensee, holding a licence under section 13 is a firm, any change occurring in the membership of such firm otherwise than through inheritance shall mean the constitution of a new firm and shall necessitate a fresh licence :Provided that in the case of Hindu-joint-family firm, any addition on account of the birth of any male member [or deletion on account of death of any male member] [Substituted vide Notification No. 11 (13)-M-III-83/9379 dated 4.5.88.] shall not be treated as bringing about any change in the membership of the firm.(b)Where a change, not necessitating a fresh licence under section 13, takes place in the membership of a firm, or the firm changes its name without any change in the membership thereof, an intimation thereof shall, within [sixty days] [Substituted vide ibid.] from the date of such change, be given to the Committee concerned, who if satisfied, after such enquiry as it may consider necessary, about the correctness of such intimation, shall order necessary corrections to be made in the licence. The register in Form C shall also then be corrected accordingly.(c)If in a case covered by clause (b), the firm fails to give necessary intimation to the Committee within the specified time, the change in the membership or the name of the firm as the case may be, shall be deemed to result in the constitution of a new firm necessitating the grant of a licence.
