7. Period of certificate of approval for petroleum .-(1) A certificate of approval for petroleum shall have effect from the date on which it is granted and shall expire at midnight on the 31st December next following:--
Provided that a certificate issued in the last quarter of the year shall be valid until 31st December of the year next following.(2)Only one person shall be named in the certificate and the fee payable for the grant thereof shall be Rs. 500 (rupees five hundred).
