(1)Any holder of a licence granted under this Act to sell an intoxicant may surrender his licence on the expiration of one month's notice in writing given by him to the Collector of his intention to surrender the same, and on payment of the fee payable for the licence for the remainder of the period for which it would have been current put for such surrender:Provided that if the Excise Commissioner is satisfied that there is sufficient reason for surrendering a licence he may remit to the holder thereof the sum so payable on surrender or any portion thereof.(2)Sub-section (1) shall not apply in the case of any licence granted under Section 18.Explanation. - The words "holders of a licence", as used in this section include a person whose tender or bid for a licence has been accepted, although he may not actually have received the licence.
