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Union of India - Section

Section 9 in Gold (Control) Act, 1968

9. Restriction on the disposal of gold acquired under any authorisation made by the Administrator.

(1)Every persons who acquires gold under any authorisation made by the Administrator shall observe such conditions and be subject to such restrictions as may be specified therein and shall furnish to the Administrator an account of such gold, if so required by the Administrator.
(2)No person receiving, accepting, buying or otherwise acquiring gold in accordance with any authorisation made by the Administrator shall-
(i)sell, deliver, transfer or otherwise dispose of, or agree to sell, deliver, transfer or otherwise dispose of, or
(ii)expose or offer for sale, delivery, transfer, or disposal of, such gold,
except in accordance with such authorisation.