(2)An application for the renewal of the license shall be made by the licensee to the Excise Commissioner as so to reach him at least 90 days before the expiry of the old license:Provided that if such application is not made within such period, the [Excise Commissioner with prior approval of the Financial Commissioner] [Substituted vide Punjab Notification dated 16.4.1999.] may renew the license, on payment off the fee chargeable for a new license.
