Any taxicab operator or driver who desires to continue in the business of operating or driving any taxicab after the expiration of the period for which he is licensed shall, between December 1 and December 31, apply for a renewal of the license to the Chief of Police as required for the issuance of new licenses and a renewal license shall be issued in the same manner as prescribed for new licenses, upon the same terms and conditions and under the same regulations. (1947 Code, Sec. 8-82.)