5. Grant of licence under sub-section (1) of Sec. 8.-(1) On receipt of an application for licence to carry on the business of selling or offering to sell the antiquities, the licensing officer shall, in addition to considering the factors mentioned in Cls. (a), (b) and (c) of sub-section (1) of Sec. 8 consider the bonafide intention of the applicant and if satisfied about such intention, may grant a licence to the applicant in Form II.
(2) Every licence granted under sub-rule (1), shall be valid for two years from the date of issue. This period of two years may be extended by one year by the licensing officer, if application for such extension is received by him at least two months before the date of expiry and the licensee (i) has been submitting all the prescribed returns; (ii) has satisfactorily maintained all the prescribed records; and (iii) continues to comply with all the conditions laid down for the grant of licence:
Provided that an application for extension under this sub-rule may be entertained by the licensing officer even up to one month before the date of expiry if he is satisfied that the delay in applying for extension was due to circumstances beyond the control of the applicant.
| 