(1)The State Government may lease to any man not below the age of twenty-five years, on such conditions and for such period as it may deem fit, the right -(i)of manufacturing or of supplying by wholesale, or of both, or(ii)of selling by wholesale or by retail, or(iii)of manufacturing or of supplying by wholesale, or of both and of selling by retail;any [Excisable article] [Substituted vide Punjab Act No. 20 of 1998. for 'country liquor or intoxicating drug'.] within any specified local area.(2)The Collector shall grant to a lessee under sub-section (1) a licence in the terms of his lease ; and, when there is no condition in the lease which prohibits sub-letting, may, on the application of the lessee, grant a licence to any sub-lessee approved by the Collector.
