Transfer of exclusive privilege:

(1) A grantee of an exclusive privilege under Section 9 shall not let or assign the same or any portion thereof unless he is expressly authorized by a condition made under that section to do so. (2) Such letting or assignment shall be made only to a person approved by the Commissioner. (3) The lessee or assignee shall not exercise any rights as such unless and until the Commissioner has, upon his application granted him a permit to do so.