Licensed factory warehouses
50.—(1)  The Director-General may, in his discretion, grant a licence to any person (referred to in this section as the licensee) to operate a licensed factory warehouse and may, in his discretion, suspend or withdraw any such licence.
(2)  Such licence shall be granted upon payment of the prescribed fee and shall be for such period and subject to such conditions as the Director-General may in each case specify in the licence.
(3)  A senior officer of customs, or any officer of customs deputed by him for the purpose, shall at all times have access to any licensed factory warehouse for the purpose of checking accounts and records and for such other purposes as may be considered necessary.
(4)  If it appears at any time that in any licensed factory warehouse there is a deficiency in the quantity of dutiable goods which ought to be found therein, the licensee of the warehouse shall —
(a)in the absence of proof to the contrary, be presumed to have illegally removed the goods; and
(b)without prejudice to any proceedings under this Act, be liable to pay immediately to the proper officer of customs the duty leviable on the goods found deficient.
(5)  If, it is shown to the satisfaction of the Director-General that the deficiency has been caused by theft or by unavoidable leakage, breakage or other accident, or by evaporation, the Director-General may remit the whole or any part of the duty leviable on the goods found deficient.
(6)  The licensee shall not be entitled to any compensation for the suspension or withdrawal of any licence granted under subsection (1), or for the surrender of the licence.
(7)  The Director-General may, in his discretion, allow a refund of one-twelfth of the amount of the licence fee for each complete month in respect of which the licence would have remained valid had it not been suspended, withdrawn or surrendered.