Regulation 8 - Surrender of licence. - Special Warehouse Licensing Regulations, 2016.

8. Surrender of licence. (1) A licensee may surrender the licence granted to him by making a request in writing to the Principal Commissioner of Customs or the Commissioner of Customs, as the case may be. (2) On receipt of the request under sub-regulation (1), the Principal Commissioner of Customs or the Commissioner of Customs, as the case may be, may cancel the licence if, (a) the licensee has paid all monies due to the Central Government under the provisions of the Act, rules or regulations made thereunder; (b) no warehoused goods remain deposited in the special warehouse or are deposited in the special warehouse from the date of request referred in sub-regulation (1); and (c) no proceedings are pending against the licensee under the Act or the rules or regulations made thereunder.