13.7.7 (Renewal of licence )

An application for renewal of a licence shall be (a) in such form; (b) accompanied by such fees, not exceeding Rs 5000 as may be prescribed by the Central Government and shall be made not less than 45 days before the date of expiry of the period of validity of the licence. Howeve4, an application for the renewal of the licence made after the expiry of the licence may be entertained on payment of such late fee, not exceeding Rs 500, as may be prescribed.