Appointees how to be dealt with.

26. The majority of the Justices assembled at such Quarterly Licensing Meeting may transfer any license (except as aforesaid) to the appointee of the holder of such license (if such appointee be approved of by them) by an endorsement upon the license in the form in the Schedule marked P hereunto annexed and thereupon the transferree shall instead of such original holder possess all the rights and shall be subject and liable page 17 to the same duties obligations and penalties as if such license had been originally granted to him.