Return of licence

(1) During the period a licence is suspended, a warehouseman shall not carry on the business of warehousing; and when a licence expires and is not renewed, or is revoked, a warehouseman shall cease to carry on his business of warehousing, and shall return the licence to the prescribed authority. (2) Where a licence expires and is not renewed, or where it is revoked, the prescribed authority shall give to the warehouseman such reasonable time thereafter as it thinks fit to wind up his business, and notwithstanding anything contained in section 3, the warehouseman may carry on his business of warehousing during the said period, and may do all things necessary for winding up such business.