Section 73AA in The Drugs and Cosmetics Rules, 1945
73AA. [ Duration of loan licence [Substituted by Notification No. G.S.R. 1337(E), dated 27.10.2017 (w.e.f. 21.12.1945).]
. - (1) A licence issued in Form 25A shall remain valid if licencee deposits a licence retention fee referred to in sub-rule (2) before the expiry of a period of every succeeding five years from the date of its issue, unless, it is suspended or cancelled by the licensing authority.(2)The licence retention fee referred to in sub-rule (1) shall be equivalent to the respective fee required for the grant of such licence excluding inspection fee paid for grant of licence.(3)If the licencee fails to pay licence retention fee on or before the due date as referred to in sub-rule (1), he shall be liable to pay licence retention fee along with a late fee calculated at the rate of two per cent. of the licence fee for every month or part there of up to six months, and in the event of non-payment of such fee, the licence shall be deemed to have been cancelled.]
