(1)A licensed vendor may surrender his licence at any time, giving one month's previous notice to the Deputy Commissioner of his intention to surrender the same, and on payment of such sum not exceeding the amount of vend-fees on the full monthly ration for four months calculated on the actual sales of the three months preceding the surrender, as the Deputy Commissioner may fix in this behalf.(2)If the Deputy Commissioner is satisfied that there is sufficient reason for surrendering a licence or permit, he may with the sanction of the Commissioner, remit the whole or any portion of the sum so fixed and may refund the whole or any portion of the security deposit.Explanation. - (a) The words ""licensed" vendor", as used in this rule, include a person whose application, tender or bid for a licence has been accepts by the Deputy Commissioner, although he may not actually have received the licence.(b)The four months' vend-fees referred to above will include the security deposit.
