Section 14 in Punjab Apartment and Property Regulation Rules, 1995
14. Renewal of Licence.
(1)In case the promoter fails to complete the development works within a period of three years specified in sub-section (4) of section 5, he may make an application to the competent authority in Form APR VI for the renewal of his licence atleast thirty days before the expiry period of the licence and the application so made shall be accompanied by :-(i)a demand draft for a sum calculated at the rate of fifty per cent of the fee prescribed in rule 10 for issuing a licence as renewal fee in favour of the competent authority and drawn on a scheduled Bank;(ii)Income tax clearance certificate;(iii)an explanatory note indicating the details of development works, which have been completed or are in progress or are yet to be undertaken;(iv)reasons for non-completion of development works as required in terms of the licence granted to him; and(v)the licence.(2)On receipt of an application under sub-rule (1), the competent authority, shall, if satisfied after making such enquiry, as it may consider necessary, that the delay in execution of development works was for reasons beyond the control of the promoter and there has been no violation of any provision of the Act and the rules made thereunder, renew the licence for a period of one year.(3)In case the competent authority is not so satisfied, it shall reject the application and in that case, an intimation in this regard will be sent to the promoter in form APR VII:Provided that before rejecting the application, the competent authority shall give the promoter an opportunity of being heard. [Sections 5(4) and 45(2)(f).]
