Section 26Part 5 — Trade CertificateAmended
Suspension or revocation of trade certificate
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Where a special economic zone enterprise —
contravenes —
the provisions of this Law or the Regulations; or
the terms and conditions of its trade certificate;
is convicted of an offence under the Proceeds of Crime Act (2020 Revision) or an allegation of criminal conduct has been made involving the special economic zone enterprise in the context of civil recovery proceedings under the Proceeds of Crime Act (2020 Revision);
is the subject of a notification from a Supervisory Authority to the Authority that the special economic zone enterprise has contravened the Anti-Money Laundering Regulations (2020 Revision) or is convicted for an offence for contravening the Anti-Money Laundering Regulations (2023 Revision);
has a controller, director, senior officer or shareholder or beneficial owner who is not a fit and proper person; or
makes any representation or statement that the special economic zone enterprise knows is false or misleading in a material particular in relation to any information or particulars that the special economic zone enterprise is required to furnish pursuant to this Law, the Authority, after proper notice and hearing, may suspend or revoke the trade certificate.
Where the Authority has revoked the trade certificate of a special economic zone enterprise pursuant to subsection (1)(e), the Authority shall not approve a subsequent application for a trade certificate in respect of that special economic zone enterprise for a period of three years from the date of the revocation.
A trade certificate that is revoked is invalid.
A trade certificate that is suspended is invalid for the period of the suspension.