Section 55, Recovery of Debts Due to Banks and Financial Institutions Act, 1993 [S1X-R6J]
As at 6 February 1994. In force from 6 February 1994 by S.O. 2460(E) [N12-6S4].
55. Grant of licence.—(1) An application for a licence to undertake the running of a school shall be made to the Commission in Form C, accompanied by a fee of five thousand rupees. (2) The Commission may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Commission may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.
Defined terms in this text (1)
Commission: Section 2, Recovery of Debts Due to Banks and Financial Institutions Act, 1993 [S1XPH4] (In this Act, unless the context otherwise requires,—): "Commission" means the Commission established under section 3
Commission: 85 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Section 54, Recovery of Debts Due to Banks and Financial Institutions Act, 1993 [S1X-R5M], 23 July 1993, Band A. "section 55".
Not held (0)
none
Duties published under this section (0)
none