Granting and revocation of licences

(1) The granting or withholding of any licence to keep the possession, custody or control of any ancient monument or antiquity shall be in the absolute discretion of the Director. (2) Any such licence may be revoked by the Director in his absolute discretion at any time and for any reason by notice in the prescribed form addressed to and served upon the licensee. (3) Upon service of any notice of revocation pursuant to sub-section (2), the ancient monument or antiquity the subject of such notice shall be deemed to be acquired in the national interest and section 40(3) and (4) and section 41 shall apply to such ancient monument or antiquity.