9. Procedure on death or disability of licencee.- lf a licencee dies or becomes insolvent the person carrying on the business of such licence shall not be liable to any penalty under the Act for exercising the powers granted to the licencee by the licence during such time as may reasonably be required to allow him to make an application for the amendment of the licence under Rule 6 in his own name for the unexpired portion of the original licence. | 
