(1) The Commissioner shall, on the application of the holder of a driver's licence or a conductor's licence which is for the time being in force and on payment to him of the annual fee payable under this Part of this Act in respect of such licence, renew such licence as from the date on which such licence would have expired if it were not so renewed.
(2) On the application of a person who was the holder of a driver's licence or a conductor's licence which ceased, within one month before such application, to be in force solely by reason of such person's failure to renew it under this section, and on payment to the Commissioner of the annual fee payable under this Part of this Act in respect of such licence, the Commissioner may, if he so thinks fit, renew such licence as from the date of such application.