Surrender of licence

(1) Any holder of a licence granted under this Act to sell an intoxicant may, unless his licence is liable to cancellation or suspension under section 29 surrender the same on- i. the expiration of one month notice in writing given by him to the Collector of his intention to surrender it, and ii. payment of the fees payable 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 a licence, he may direct the licensing authority to remit to the holder thereof the sum so payable on surrender, and any fees paid in advance, or any portion of such sum of fees. (2) sub-section (1) shall not apply in the case of a licence for the sale of any country liquor or intoxicating drug in the exercise of an exclusive privilege granted under section 17. Explanation: - The words "holder 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.