Foreign Trade (Development ＆ Regulation) Act, 1992

Section - 9 - Issue, suspension and cancellation of licence

Issue, suspension and cancellation of licence.

9. (1) The Central Government may levy fees, subject to such exceptions, in respect of such person or class of persons making an application for a licence [, certificate, scrip or any instrument bestowing financial or fiscal benefits] or in respect of any licence [, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted or renewed in such manner as may be prescribed.

[(2) The Director General or an officer authorised by him may, on an application and after making such inquiry as he may think fit, grant or renew or refuse to grant or renew a licence to import or export such class or classes of goods or services or technology as may be prescribed and, grant or renew or refuse to grant or renew a certificate, scrip or any instrument bestowing financial or fiscal benefit, after recording in writing his reasons for such refusal.]

(3) A licence [, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted or renewed under this section shall -

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(a)- be in such form as may be prescribed;
(b)- be valid for such period as may be specified therein; and