Grant of lease of manufacture etc.

1. (1) The State Government may lease to any man not below the age of twenty-five years, on such conditions and for such period as it may deem fit, the right -
   • (i) of manufacturing or of supplying by wholesale, or of both, or
   • (ii) of selling by wholesale or by retail, or
   • (iii) of manufacturing or of supplying by wholesale, or of both and of selling by retail; any [Excisable article]1 within any specified local area.
2. (2) The Collector shall grant to a lessee under sub-section (1) a licence in the terms of his lease ; and, when there is no condition in the lease which prohibits sub-letting, may, on the application of the lessee, grant a licence to any sub-lessee approved by the Collector.

¹ Substituted vide Punjab Act No. 20 of 1998. for "country liquor or intoxicating drug".