(1) Where a license is revoked, no new license shall be issued to permit the sale of alcoholic beverages on the same premises until after the expiration of one (1) year from the date such revocation becomes final and effective.
(2) If the premises are owned by a person, firm or corporation not the licensee, the commission may, in its discretion, waive subsection (a) or reduce the time within which no new license may be granted with respect to the same premises.