Clause 20

Notwithstanding the provisions of this Act, a person who, immediately before the commencement of this Act, was carrying on money-changing or remittance business shall be entitled to do the same without a licence for a period of three months beginning from the commencement of this Act, and if before the expiration of that period he applies for a licence then he may continue to do the same until the licence is granted or finally refused or the application for a licence is withdrawn.