Issue, suspension and concellation of licence

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..... ny instrument bestowing financial or fiscal benefits] or in respect of any 1[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted or renewed in such manner as may be prescribed. 2[(2) The Director General or an officer authorized 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 l .....

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..... cribed. (4) The Director General or the officer authorised under sub-section (2) may, subject to such conditions as may be prescribed for good and sufficient reasons, to be recorded in writing suspend or cancel any 1[licence, certificate, scrip or any instrument bestowing financial or fiscal benefits] granted under this Act: Provided that no such suspension or cancellation shall be made except .....

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