Surrender of license.

Any holder of a license granted under the Act to sell an intoxicant may surrender his license 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 license 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 license, he may remit to the holder thereof the sum so payable on surrender and any fee paid in advance or any portion of such sum or fee; Provided also that nothing in this section shall apply in the case of a license held by the grantee of an exclusive privilege under section 18. Explanation:- In this section and in section 34, the w3ords “holder of a license” include a person whose bid, tender, or application for a license has been accepted by the Excise Officer empowered to grant such license, although such person may not in fact have received the license.