(1)The holder of a licence may, at any time before the expiry of the licence, apply for permission to transfer his licence to another person.(2)Such application shall be made to the Chief Inspector, who shall, if he approves of the transfer, enter upon the licence, under his signature, an endorsement to the effect that the licence has been transferred to the person named.(3)A fee of five rupees shall be charged on each such application.(4)The person to whom the licence is so transferred shall enjoy the same powers, and be subject to the same obligations under the licence as the original holder.
