12
NO. 31 OF 2008
Revocation or suspension of licence
9.—(1) The Registrar may revoke a licence, or suspend it for such period as he considers appropriate, if he is satisfied—
- (a) that the licensee—
- (i) has ceased to carry on the business of moneylending, or is wound up or otherwise dissolved;
- (ii) had, in connection with an application for the issue or renewal of the licence—
- (A) knowingly or recklessly furnished any information or statement to the Registrar which was false or misleading in a material particular;
- (B) wilfully omitted to state any matter without which the application was misleading in a material particular; or
- (C) produced to the Registrar any book, record or other document which he knew or had reason to believe contained information which was false or misleading in a material particular;
- (iii) has contravened any condition of his licence;
- (iv) is conducting or has conducted his business of moneylending in an improper or unsatisfactory manner; or
- (v) has carried on a business of moneylending at any place which the Registrar has not approved under section 10, or has contravened any condition of approval for a place of business imposed under that section; or
- (b) that there exists a ground on which the Registrar may refuse to issue or renew a licence under section 7, whether in relation to the licensee or his principal.
(2) The Registrar shall, before revoking or suspending any licence under subsection (1), give the licensee notice in writing of his intention to do so, specifying a date, not less than 21 days after the date of the notice, upon which the revocation or suspension shall take effect unless the licensee shows cause to the Registrar as to why the licence should not be revoked or suspended.
