Accrued import licence benefits survive later policy change where export obligations were already fulfilled and redemption was granted.

A validly issued imprest import licence, once acted upon by fulfilling the prescribed export obligation and obtaining a redemption certificate, cannot be denied revalidation and endorsement merely because the import and export policy changed later. The later policy did not show any clear prohibition against revalidation, and the accrued benefit under the original licence remained protected. An objection based on paragraph 185(7) of the 1982-83 policy was not entertained in appeal because it had not been raised before the trial court. The challenge to the grant of relief therefore failed.

---

---

Issues: Whether the respondents were entitled to revalidation and endorsement of the imprest import licence for OGL items despite expiry of the policy year and a subsequent change in the import and export policy.

Analysis: The respondents had already carried out the import and export obligations under the licence and had been granted a redemption certificate in accordance with the policy then in force. The subsequent change of policy could not deprive them of the benefit that had accrued under a validly issued licence. No provision in the later policy was shown to prohibit revalidation, and the objection based on paragraph 185(7) of the 1982-83 policy was not raised before the trial court and was therefore not entertained in appeal.

Conclusion: The respondents were entitled to revalidation and endorsement of the imprest licence, and the challenge to the grant of relief failed.

Ratio Decidendi: A benefit validly accrued under an import licence and acted upon by fulfilling the prescribed export obligation cannot be defeated merely because the policy changes later, unless the later policy clearly prohibits such revalidation.

---