42. Transfer of license
(1) The holder of a license for the storage of film may, at any time before the expiry of the license, apply for permission to transfer his license to another person.
(2) Such application shall be made to the licensing authority who shall, if he approves of the transfer, enter upon the license, under his signature, an endorsement to the effect that the license has been transferred to the person named.
(3) A fee of two rupees shall be charged on each such application.
(4) The person to whom the license is so transferred shall enjoy the same powers, and be subject to the same obligations under the license as the original holder.
Rules and Regulations of India