s.32Suspension of licence
32
Section 32Part 3 — Licensing

Suspension of licence

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Subject to any special conditions concerning suspension in the relevant licence, the Office may suspend any licence for a period not exceeding one year in any of the following circumstances —
where a licensee breaches any condition attached to that licensee's licence;
where a licensee contravenes this Act or the regulations;
where a licensee is convicted of an offence under this Act;
where a licensee fails to discharge that licensee's financial commitments under this Act;
where a licensee is struck from the Register of Companies;
where a licensee is subject to an order of the Court in respect of liquidation or bankruptcy proceedings; or
where a licensee compounds with that licensee's creditors to the detriment of the Office.
Notwithstanding subsection (1), the Office, on the order of the Governor, shall without notice suspend any licence if the suspension is necessary for reasons of security of the Islands.
The Office shall, before suspending any licence under subsection (1), give written notice to the licensee, in which notice the Office shall draw to the attention of the licensee the grounds on which the Office intends to suspend the licence.
The Office shall, in case of a breach by a licensee of a condition attached to a licence or regulations, give an opportunity to the licensee to remedy the breach within a reasonable time.

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