(4)The transfer of licence shall take effect only after the Competent Authority approves the transfer and make entries of the details of transfer in the appropriate columns in Form No. 4 under his dated signature. The transferee shall not take over the factory before getting the written approval of the Competent Authority. The licence shall then be given to the person named (transferee) in the application:Provided that the Competent Authority may call for such other particulars as he may require before effecting the transfer:Provided further that if the Competent Authority disapproves the transfer he shall record the reasons in writing and communicate the same to the applicant.
