Transfer of exclusive privilege

(1) A grantee of an exclusive privilege under Section 20 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 Collector, and if the letting or assignment extends to more than one district, by the Excise Commissioner. (3) The lessee or assignee shall not exercise any right, as such unless and until the Collector has, upon his application, granted him a licence to do so.