When the business of an exhibitor is sold or otherwise transferred, the license of such exhibitor may be transferred to the transferee with the consent of the Clerk of Council for the remainder of the license period, if the latter is satisfied that such successor would be eligible to receive a new license. The transfer of an exhibitor’s license shall carry with it the transfer of the amusement device license issued to him or her, but the transfer shall be noted on the books of the Clerk of Council and upon the licenses issued for such amusement devices.