Amendment status not verified — confirm the current text below against the official source.
(1) Before granting a licence the prescribed authority licence 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 financially sound; (c) that the applicant has paid the fee prescribed for the licence and has also paid or given the prescribed security, if any. (2) The Government may, by notification in the official Gazette, add to or alter the conditions under this section.