(1)Save as otherwise provided in this Act, no person shall either establish a refinery or carry on business as a refiner unless he holds a valid licence issued in his behalf by the Administrator.(2)A licence issued under this section,-(a)shall be in such form as may be prescribed,(b)shall be valid for such period as may be specified therein,(c)may be renewed, from time to time, and(d)[ shall be subject to such conditions and restrictions as may be prescribed.] [Substituted by Act 26 of 1969.](3)Every licence issued under Part XII-A of the Defence of India Rules, 1962, or under the Gold (Control) Ordinance, 1968 (6 of 1968) authorising the establishment of a refinery or carrying, on of business as a refiner, shall, if in force immediately before the commencement of this Act continue to be in force until the expiry of the period of its validity or until the cancellation thereof, whichever is earlier.(4)A person who holds, at the commencement of this Act, a valid licence authoring him to establish a refinery or to carry on business as a refiner shall, if he intends to continue such business after the expiry of the period of its validity, make, at least one month before the expiry of such period, an application (in such form and on payment of such fees, not exceeding one hundred rupees as may be prescribed) for the renewal of such licence.(5)A person who intends to establish a commence, after the commencement of this Act, a refinery or business as a refiner, shall make an application (in such form and on payment of such fees, not exceeding one hundred rupees, as may be prescribed) for the issue of a licence.(6)[ (a) No application for the issue of or licence to commence or carry on business as a refiner shall be granted unless the Administrator, after making such inquiry as he may think fit, is satisfied with regard to the following matters, namely:-(i)the security of the premises where the applicant intends to carry on business as a refiner, the suitability of such premised for being used as a refinery, and the existence therein of arrangements for the storage of gold before and after refining;(ii)the existence, in such premises, of equipment for the manufacture of standard gold bars, or for assaying of gold, and the quality and adequacy of such equipment;(iii)the existence, in such premises of facilities for the exercise of supervision and control by the Administrator or any other person authorised by him in this behalf;(iv)the competence of the applicant to manufacture standard gold bars; and(v)such other matters as may be prescribed.(b)No application for the renewal of licence to carry on business as a refiner shall be rejected unless-(1)the holder of such licence has been given a reasonable opportunity of presenting his case, and(2)the Administrator is satisfied that-(i)the application for such renewal has been made after the expiry of the period specified therefor, or(ii)the refinery does not continue to satisfy the matters specified in sub-clauses (i), (ii), (iii) or (v) of clause (a), or(iii)any statement made by the applicant at the time of the issue or renewal of the licence was incorrect or false in material particulars, or(iv)the applicant has contravened any term or condition of the licence or any provision of this Act or rule or order made thereunder or of any other law for the time being in force in so far as such law prohibits or restricts the bringing into or taking out of India of any goods (including coins, currency, whether Indian or foreign, and foreign exchange) or the dealing in such goods by way of acquisition or otherwise.(c)Notwithstanding anything contained in clause (a) or clause (b), a licence to commence or carry on business as a refiner shall not be issued or renewed if the Administrator, after giving the applicant a reasonable opportunity of presenting his case, is satisfied that the entire volume of the refining business done, or proposed to be done, by the applicant may be conveniently done at a refinery established or run by Government or by a corporation owned or controlled by Government.(d)Every order granting or rejecting an application for the issue or renewal of a licence shall be made in writing.](7)Any person to whom a licence has been issued or renewed under this section shall comply with the provisions of every law, rule, regulation or bye-law for the time being in force relating to refineries.(8)A person to whom a licence to carry on business as a refiner is issued under this section shall not carry on business as such refiner in the same premises in which he or any other person carries, on business, whether as a dealer or otherwise, or as a money-lender or banker who lends or advances money on the hypothecation, pledge, mortgage or charge of any gold.(9)Every licensed refiner shall ensure that every person employed by him in the refinery complies, in the course of such employment, with the provisions of this Act or any rule or order made thereunder and of any other law relating to gold or foreign exchange for the time being in force.
