The Industrial Property Act, 2001 compulsory licences 38 requesting the licence:(a) satisfies the Tribunal that he has asked the owner of the patent for a contractual licence but has been unable to obtain the licence on reasonable commercial terms and within a reasonable time; and (b) offers guarantees satisfactory to the Tribunal to work the relevant invention sufficiently to remedy the deficiencies or to satisfy the requirements which gave rise to his request. (2) the requirement under subsection (1)(a) shall be waived in the case of a national emergency or other circumstances of extreme urgency, provided the owner of the patent shall be so notified as soon as is reasonably practicable. Grant and term of compulsory licences 75. (1) In considering a request for a compulsory licence, the Tribunal shall decide whether a compulsory licence may be granted and shall then, if it decides in favour of the grant taking into account any terms agreed by the parties, proceed to fix the terms which shall be deemed to constitute a valid contract between the parties and shall be governed by the provisions of contractual licences. (2) In fixing the terms under subsection (1), the Tribunal shall ensure that the compulsory licence: (a) is limited, in scope and duration, to the purpose for which it was authorized, and the case of semi-conductor technology, shall only be for public non-commercial use or remedy a practice determined after a judicial or administrative process to be anti-competitive; (b) is limited predominantly for the supply of the domestic market; (c) does not entitle the licensee to grant further licences, without the consent of the owner of the patent; (d) is non-exclusive; and (e) provides for the payment to the owner of the patent of remuneration which is equitable with due regard to all the circumstances of the case, including the economic value of the licence. (3) A representative of the Institute and of the Government shall have the right to appear and be heard at the hearing of an application for compulsory licence, before the Tribunal. Transfer of compulsory licences 76.A compulsory licence may be transferred only with that part of the industrial undertaking or its goodwill, in which the relevant invention is used and no such transfer shall be valid until the consent of the Tribunal has been obtained. Cancellation of compulsory licences 77. (1) On the application of any interested party, the Tribunal may cancel a compulsory licence if: -