7. Renewal of licence under sub-section (1) of Sec. (9).-On an application made by the licensee for the renewal of the licence and on payment of a fee rupees one thousand the licence may be renewed for a further period of two years at one time:

Provided that such application is received by the licensing officer at least two months before the date of expiry of the licence and is accompanied by a declaration of stock in Form VI.

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