Cessation of powers given by licence under section 10

If a promoter authorised by a licence granted under section 10 to construct a ropeway does not, within the time specified in the licence, make progress according to the schedule of progress approved by the Licensing Authority, the powers given to the promoter by such licence shall, unless, on an application made by the promoter in this behalf, the Licensing Authority, extends the time so specified, cease to be exercised; Provided that in case the Licencing Authority rejects an application made under this section, it shall do so by an order made in this behalf and for reasons to be recorded in writing.