(1) Whenever any person sells or otherwise transfers the ownership of any animal or article in respect of which a licence has been taken out by him or her under this Act, he or she shall give notice in writing of such sale or transfer to the Director of Finance and Planning, or to the revenue officer in charge of a revenue office in the district in which he or she resides, within 7 days after such sale or transfer, and he or she shall in such notice give a description of such animal or article and the name and place of residence of the person to whom the same has been so sold or transferred. And he or she may in such notice apply for a transfer of such licence to the new owner, in which case the Director of Finance and Planning or revenue officer shall write on such licence the name and place of residence of such new owner together with words to the effect that such licence has been transferred to him or her, and such transferred licence shall operate in all respects as the original licence and the holder thereof shall be subject to all the provisions of this Act as if such transferred licence had been the original licence.