Cap. 644 Art. 25Surrender, suspension or cancellation of a licence.

(1) A licence holder may at any time surrender his licence by forwarding a written notice to that effect, together with the identity document, to the Agency.

(2) Licence holders may at any time notify the Agency that they do not intend to keep operating through a partnership as envisaged under article 18(4) by forwarding a written notice to that effect to the Agency.

(3) The Agency shall list on the notice the date on which it receives the notice, and the licence or authorisation shall as from that date, cease to have effect.

(4) The surrender of a licence or authorisation under this article shall not affect the licence holder’s or partnership’s liability, as the case may be:

(a) to pay any fees or other dues payable to the Agency in accordance with this Act on or before the date on which the licence would, but for its surrender, expire;

(b) to perform any obligation required to be performed under this Act on or before that date;

(c) for any act done or default made before the date on which the licence or authorisation ceased to have effect; and

(d) where the Agency receives reports from any other agency, including from authorities responsible for safety and enforcement of any other obligation that the licence holder may be subject to;

(5) A licence or authorisation may be cancelled or suspended by the Agency in any of the following instances:

(a) where the Agency determines that the licence holder no longer fulfils or meets the requirements of, or has breached, any of the provisions of this Act or of any rules issued thereunder, or has failed to satisfy or comply with any obligation or condition to which the licence is subject by virtue of, or under this Act;

(b) where any beneficial owner, member of the board of directors or partner, or company secretary of a partnership formed for the purpose of article 18(4), where such is required under any other law, no longer meets the conditions set out in article 20(5);

(c) where a partnership formed for the purposes of article 18(4) is to be dissolved and consequently wound up;

(d) when the Agency receives any negative reports from any other Agency including other authorities responsible for the supervision and enforcement of any other obligations to which the exercise of the activity of any licensee may be subject.

(6) In the circumstances referred to in sub-article (5), the Agency may instead of the suspension or cancellation of a licence or authorisation, order the removal and replacement of any such person who may be involved in the partnership.

(7) When the Agency decides to suspend or cancel a licence or authorisation, the Agency shall inform the licence holder or licence holders by notice in writing giving reasons for its decision.