Grant of Licence

(1) Any person who wishes to possess, store, sell, trade in or otherwise deal with any mineral shall make an application to the Competent Authority for a licence. (2) Every application under sub-section (1) shall be made in such form and accompanied by such fee as may be prescribed. (3) On receipt of an application under sub-section (1) the Competent Authority within the prescribed time may grant a licence in such form, for such period and subject to such terms and conditions as may be prescribed or may refuse to grant the licence in which case he shall communicate the reason of such refusal to the person concerned.