S.L. 545.38 Art. 6Suspension, revocation or cancellation of an authorisation.

The Regulator may, at any time in the course of the period for which an authorisation is valid, order its suspension, revocation or cancellation where the Regulator is satisfied that:

(a) the holder of the authorisation has failed or is failing to comply with any condition of the authorisation or with these regulations;

(b) the holder of the authorisation does not possess all other relevant authorisations and permits however so described that are required by any other public regulator or Government department;

(c) the holder of the authorisation is contravening any requirement imposed by law;

(d) the holder of the authorisation fails to comply with any directive given by the Regulator;

(e) any information submitted in the application for a authorisation or the application for renewal of a authorisation and for which the authorisation has been issued or renewed, as the case may be, is determined to be false; or

(f) if the holder of the authorisation does not meet any criteria in respect of one or more of the criteria referred to in regulation 4(2):

Provided that in exercising the powers for suspension, revocation or cancellation of authorisations, the Regulator may take into account the nature of the failure, or the fact that the holder of the authorisation is taking the appropriate steps which the Regulator considers to be necessary in order to comply with the conditions of the authorisation, these regulations or any other requirement that the Regulator may deem relevant.