- Any holder of a licence to sell by retail under this Act may surrender his licence on the expiration of one month's notice in writing given by him to the Excise Commissioner of his intention to surrender the same and on payment of the fee payable for the licence for the whole period for which it would have been current but for such surrender:Provided that if the Excise Commissioner is satisfied that there is sufficient reason for surrendering such a licence, he may remit the holder thereof the sum so payable on surrender, or any portion thereof.Explanation. - The word "holder of a licence" used in this section include a person whose tender, bid and request on the prescribed form for a licence has been accepted although he may not actually has received the licence.
