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TMI BlogForm of application for a Licence under Public Warehousing Licensing Regulations, 2016 / Private Warehousing Regulations, 2016 / Special Warehousing Regulations, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... embers of the Trade is invited to the Board 's Circular No. 26/2016-Cus dated: 9th June, 2016 on the above subject. 2. Upon the notification. pf Public Warehousing Licensing Regulations, 2016 / Private warehouse Licensing Regulations, 2016 / Special Warehouse Licensing Regulations, 2016, a need has been felt to review the process of application for a warehouse licence and the form used for the same, For the purpose of certainty in providing information by applicants and transparency in procedure regarding processing of applications, the Board has prescribed the Form (annexed) to be used by an applicant seeking a licence for a bonded warehouse. 3. This application form has been prescribed for use by applicants ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on. The Bond officer must complete the process of examining the application, visiting the premises to be licensed and submitting his report to the Principal Commissioner / Commissioner within 15 days of the receipt of the application. The approval or rejection of the application by the Licensing Authority (Principal Commissioner / Commissioner) should be completed within the next 15 days 6. The Board has taken cognizance of the fact that in the absence of standard operating procedures tor antecedent verification of the applicant, varied practices have been followed by Commissionerates. In some Commissionerates, verification is conducted by limiting inquiries to their jurisdiction, while in others, references are made across ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... render / cancellation. Henceforth, there shall be no requirement for renewal of warehousing license on annual basis. 9. In case of licenses issued earlier to the notification of Licensing Regulations on 14th May 2016, the requirement of annual renewal is dispensed. All warehouses appointed under the erstwhile section 57 or licensed under erstwhile 'Section 58 shall be deemed to remain valid till their surrender / cancellation, once the conditions under the new regulations have been complied. 10. Since the licensee is required to renew the insurance policy annually and continue to comply with solvency conditions (as applicable), the same shall be required to be submitted annually. 11. Difficultie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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