(1) Every general licence issued under section 14 shall be published by the Board in the Gazette of India and in such newspapers as the Board may direct.
(2) A special licence issued under section 14 shall be valid only for such period as may be specified therein :
Provided that the Board may from time to time extend the period of validity of any such licence.
(3) The Board may at any time for reasons to be recorded by it in writing revoke a special licence granted under section 14, and on such revocation it shall be returned to the Board by the person to whom it was issued.
(4) No application for special licence made by a person who was carrying on business as a dealer or manufacturer immediately before the commencement of this Act shall be rejected by the Board except for special reasons to be recorded in writing.