8. Restrictions regarding acquisition, possession and disposal of gold.
(1)Save as otherwise provided in this Act, no person shall-(i)own or have in his possession, custody or control, or(ii)acquire or agree to acquire the ownership, possession, custody or control of, or(iii)buy, accept or otherwise receive or agree to buy, accept or otherwise receive, any primary gold,(2)[ Save as otherwise provided in this Act, a person may,-(a)(i)acquire or agree to acquire the ownership possession, custody or control of, of(ii)buy, accept or otherwise receive or agree to buy, accept or otherwise receive, any ornament, unless he knows or has reason to believe that such ornament, being required to be included in a declaration, has not been so included;(b)sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise, dispose of any ornament, but shall not do so if the ornament, being required to be included in a declaration, has not been so included.](3)Save as otherwise provided in this Act, no person shall-(a)acquire, or agree to acquire, the ownership possession, custody or control of, or(b)buy, accept or otherwise receive, or agree to buy, accept or otherwise receive,any article, except by succession, intestate or testamentary.(4)Save as otherwise provided in this Act, no person shall sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise dispose of, any article to a person who is not a licensed dealer or refiner:Provided that a person may deliver an article to a certified goldsmith for the purpose of repairing or polishing or for the purpose of getting one or more ornaments made, manufactured or prepared therefrom:Provided further that no such sale, delivery, transfer or disposal of any article shall be made-(i)where such article is required to be included in a declaration unless such article has been included in a declaration which has been duly made by the person who intends to sell, deliver, transfer or otherwise dispose of the same, or(ii)where such article is not required to be include in a declaration, unless the sale delivery, transfer or disposal thereof has been authorised by the Administrator.(5)Notwithstanding anything contained in sub-sections (3) and (4) persons may accept or transfer, by way of gift or exchange, gold coins, not exceeding five in number, if together with the gold coins received by way of gift or exchange, the total holding of gold coins of the donee or transferee, as the case may be, does not exceed fifty grammes.(6)Notwithstanding anything contained in this section, the Administrator may, if he is of opinion that the special circumstances of any case or class of cases so require, authorise any person or class or persons to buy or otherwise acquire, accept, or otherwise receive, or sell, deliver, transfer or otherwise dispose of, any primary gold or article.
