(1) A dealer shall, within thirty days before the expiry of the validity of the certificate of eligibility granted under sub-rule (1) of rule 185, or renewed earlier under this rule, make an application to the Senior Joint Commissioner or the Joint commissioner or the Deputy commissioner, as the case may be, for renewal of his certificate of eligibility for a further period.

(2) If the Senior Joint Commissioner or the Joint commissioner or the Deputy commissioner, as the case may be, is satisfied that the dealer is eligible for deferment of payment of tax under sub-rule (1) of rule 165 or remission of tax under sub-rule (1) of rule 177, as the case may be, and the rules made thereunder, he shall renew the certificate of eligibility for a period not exceeding twelve months from the date immediately following the date on which the validity of such certificate has expired.

(3) When the Senior Joint Commissioner or the Joint commissioner or the Deputy commissioner, as the case may be, is not satisfied that the dealer is eligible for deferment of payment of tax under sub-rule (1) of rule 165 or for remission of tax under sub-rule (1) of rule 177, as the case may be, he shall, after giving the dealer a reasonable opportunity of being heard, reject the application for renewal of the certificate of eligibility for reasons to be recorded in writing.

(4) Omitted.