Section 77B
Licensing of petroleum supply base
The Director General may, on payment of such fees as prescribed, issue a licence to any person to manage and administer a petroleum supply base and to carry out activities in the petroleum supply base as approved by the Director General.
(2)
The licence issued under subsection (1)—
(a)
shall be for such period and subject to such conditions as the Director General may specify in the licence; and
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(b)
may be withdrawn, suspended or cancelled by the Director
General.
(3)
The licensee shall, for the proper conduct of his business, furnish such security as may be required by the Director General.
(4)
The licensee shall provide appropriate customs office and facilities within or at the perimeter of the petroleum supply base at the expense of the licensee.