(1) Whenever the property in a licensed public service vehicle is transferred whether by act of the parties or by operation of law, the Commissioner may, on the application of the transferee and the payment of the prescribed fee (if any) and on being satisfied of the fact of such transfer, transfer the public service vehicle licence then in force to the said transferee.
(2) The provisions of this Act in relation to the qualifications for receiving and the grounds for refusing a grant of a public service vehicle licence shall apply to the transfer of a licence under this section in like manner as if such transfer were the grant of a public service vehicle licence.