43. Procedure on death or disability of licensee

(1) If a licensee dies or becomes insolvent or otherwise disabled, the person carrying on the business of such licensee shall not be liable to any penalty or confiscation under the Act or these rules for exercising the powers granted to the licensee by the license during such time as may reasonably be required to allow him to make an application for a new license is his own name for the unexpired portion of the original license.


(2) A fee of two rupees shall be charged for a new license for the unexpired portion of an original license granted to any person applying for it under this rule.

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Rules and Regulations of India


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