Section 123: Termination of warehouse license

1 The Service shall give a written notice of intention to revoke or not to renew the license of a warehouse three months prior to the date the revocation is to take effect or the license is due to expire.

2 The notice referred to in subsection (1) shall specify the date the license is due to terminate and shall be deemed to have been served on all persons interested in any goods deposited in that warehouse if addressed and served on the warehouse keeper.

3 After the date of issuance of the notice referred to in subsection (1), no goods shall be accepted for deposit for warehousing in the warehouse.

4 Where -
a after the date specified in the notice or such later date as the Service may in any case allow, any goods upon which duty has not been paid remain in the warehouse; or
b after the notice has been served, any goods deposited for warehousing in the warehouse, the proper officers may, take the goods to a Government warehouse, and the Service may, for good cause, permit such goods to be re-warehoused in another warehouse.