Acquisition of interest in land, etc., and carrying on trade or business

(1) No person other than a member of an aboriginal tribe shall, except with the previous sanction of the Chief Commissioner, acquire any interest in any land situated in a reserved area or in any product of, or crop raised on, such land, or carry on and in accordance with the terms and conditions of a licence granted by the Chief Commissioner, carry on any trade or business in any such area. (2) The provisions of sub-section (1) shall apply to any person who, at the commencement of this Regulation, is carrying on any trade or business in any such area after the expiration of sixty days from such commencement.