Exemption from the remission of tax

When the owner of any motor vehicle in respect of which the tax or installment of tax has been paid, has occasion to withdraw the said motor vehicle from use for the whole of the period in respect of which the tax or any such installment is again payable, he may, in lieu of paying such tax or installment surrender to the licensing officer his last current licence relating to the said motor vehicle and shall thereupon be exempt from liability to pay the said tax or installment of tax in respect of the said period.