www.lawcommission.gov.np 15. Duration of a Licence : The licence of the Certifying Authority granted under Rule 14 shall remain valid for a period of Two fiscal years. 16. Renewal of a Licence : (1) The Certifying Authority desirous to renew the licence received by it shall file an application to the Controller in the format as referred to in Schedule-4 along with Twenty Thousand Rupees as renewal fee including a bank guarantee under Clause (d) of Sub-rule (2) of Rule 12 Thirty days in advance before the expiry of duration as referred to in Rule 15. (2) The Controller shall decide on the matter whether or not it shall renew a licence within Fifteen days from the registration of the application file for the renewal of a licence under Sub-rule (1). (3) If a decision has been taken to renew the licence under Subrule (2), the licence shall be returned to the applicant after denoting the content of renewal in the concerned licence . 17. Renewal of a Licence may be Denied: (1) The Controller may, in the following cases, deny to renew a licence of the Certifying Authority: (a) If the Certifying Authority has not furnished any documents or details required to be furnished along with the application to be filed for the renewal; (b) If any documents or details having in ownership or access of the Certifying Authority are not submitted as may be requested by the Controller; (c) If the Controller has obtained a reliable ground that the firm or company obtaining a licence to act as a Certifying Authority is in the process of liquidation; 9 www.lawcommission.gov.np