(4)A dedicated sports person, holding a license in Form III shall be able to lend his arms temporarily for a period not exceeding three months for the purpose of sport only to another dedicated sports person lawfully entitled to possess such type of armband subject to the conditions that ?(a)the arm is used by the borrower in the presence of the license holder or under his written authority along with a certified copy of his license, which shall show the number and other identification marks of the arm and the period for which it is lent;(b)in the event of the arm being misused by, or stolen or lost due to the gross negligence of the borrower, the license of the lender thereof shall be liable to be revoked in addition to being liable to be prosecuted under the provisions of the Act; and(c)the borrower shall, on demand produce proof of such lending.
