Amendment status not verified — confirm the current text below against the official source.
Before granting a licence, the prescribed authority shall satisfy itself.- (a) that the warehouse is suitable for proper storage of the class or classes of goods in respect of which the licence has been applied for; (b) that the applicant is competent to conduct such a warehouse; (c) that the applicant has paid the fee prescribed for the licence and has also furnished the prescribed security, if any, provided that where the applicant is a corporation established under the Agricultural Produce (Development and Warehousing) Corporations Act, 1956 (28 of 1956), no security need be furnished; and (d) that there is no other cause or reason for which the applicant is, in the opinion of the prescribed authority, disqualified.