Require- ment for li- cence.

(1) No person shall establish or permit to be established a new market after the commencement of this Act without a licence from the licensing authority. Explanation :- New market means a market established, or organised or sought to be established or organised after the commencement of this Act. (2) The owner, organiser or Manager of the Market which has been so functioning or existing at the commencement of the Act shall apply for grant of a licence to the licensing authority within such period as may be specified by the State Government by a Notification in the Official Gazette in this behalf. (3) The licensing authority may grant the licence on such conditions as it may deem fit or reject the application for reasons for reasons to be recorded by him in writing provided that no application shall be rejected expect after giving an opportunity to the applicant of being heard. (4) No licence shall be granted for any market without the consent of the owner of the market place.