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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 Commissioner of Customs may, subject to such conditions as may be prescribed, license a private warehouse wherein dutiable goods imported by or on behalf of the licensee may be deposited. Licensing of special warehouses 58A. (1) The Principal Commissione .....

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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 Commissioner of Customs may cancel the licence granted under section 57 or section 58 or section 58A: Provided that before any licence is cancelled, the licensee shall be given a reasonable opportunity of being heard. (2) The Principal Commissioner of .....

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