Section 51: Cessation of business

51. Cessation of business (1) Where the holder of a licence specified in Part I or Part II of the Second Schedule intends to cease carrying on business, he shall give written notice to the licensing authority and public notice of his intention in the Gazette and in 2 daily newspapers. (2) Where a manufacturer ceases to hold a licence, he shall— (a) not later than 10 days after the date on which he ceases to hold the licence, submit all entries and pay to the Director-General the excise duty due on all excisable goods remaining in his factory; or (b) with the approval of the Director-General, transfer the excisable goods to another factory. (3) For the purposes of subsection (2) (a), the excise duty shall be due on excisable goods at such stage of their manufacture as may be prescribed. (4) Where a manufacturer ceases to hold a licence, no excisable goods labelled by him shall, except with the Director-General’s written authorisation, be sold, stored, exposed or offered for sale after a period of 6 months from the date on which he ceases to hold the licence.