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Substitution of new sections 58, 58A and 58B for section 58.

Section 125 - Act - INDIRECT TAXES Customs - Finance Act - Section 125 - 125. In the Customs Act, for section 58, the following sections shall be substituted, namely:- Licensing of private warehouses. 58. The Principal Commissioner of Customs or Comm .....

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r of Customs or Commissioner of Customs may, subject to such conditions as may be prescribed, license a special warehouse wherein dutiable goods may be deposited and such warehouse shall be caused to be locked by the proper officer and no person shal .....

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sub-section (1). Cancellation of Licence. 58B. (1) Where a licensee contravenes any of the provisions of this Act or the rules or regulations made thereunder or breaches any of the conditions of the licence, the Principal Commissioner of Customs or C .....

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Customs or Commissioner of Customs may, without prejudice to any other action that may be taken against the licensee and the goods under this Act or any other law for the time being in force, suspend operation of the warehouse during the pendency of .....

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