That the number of votes recorded in the district in favour of the proposal that licenses shall be restored therein is not less than three-fifths of all the voters whose votes were recorded,—

Then, but not otherwise, the Committee, at its first annual licensing meeting thereafter, shall grant licenses (if applied for) in the district to the extent of not more than the number nor less than fifty per centum of the number of each description of license that existed in the district at the time when the grant of existing licenses in such district was last prohibited pursuant to a poll taken under the Licensing Acts.