Provided that the dealer shall be given an opportunity of being heard before the adjustment of the security furnished by him.

Granting of exemption in certain cases

1. (1) The Government may, from time to time, by notification, exempt from or vary the operation of anyone or all of the provisions of this Act related to registration in respect of specified dealers or class of dealers in any specified goods or class of goods.
2. (2) Any exemption under sub-section (1),—
   • (i) may extend to the whole of the Union Territory or to any specified area or areas therein; and
   • (ii) may be made subject to such restrictions and conditions as may be specified in the notification.
3. (3) The Government may, by notification, cancel or vary any notification issued under sub-section (1).