(1)A license granted under these rules shall be valid for a period of one year from the date of issue unless it is cancelled determined or surrendered earlier and shall be renewable annually on the application of the licensee on payment of [One Crore twenty lacs.] [Substituted for 'One Crore' by Haryana Notification No. S.O. 36/P.A. 1/1914/Ss. 21 and 59/2011, dated 1.4.2011 (w.e.f. 27.11.1963).]Provided that such a license may be cancelled for breach of the terms thereof or may be determined by the Financial Commissioner after giving the licensee six months' notice.
