29Revocation of licences

29 Revocation of licences

(1)  The Authority, by notice in writing served on the licensee, may revoke a licence if –

(a) the licensee fails to comply with, or contravenes –

(i) any provision of this Act; or

(ii) any condition of the licence; or

(b) the licensee has ceased to carry on business of the nature specified in the licence; or

(c) the licensee is convicted of an offence under this Act.

(2)  Before revoking a licence, the Authority –

(a) by notice served on the licensee, is to notify the licensee of the intention to revoke the licence; and

(b) is to give the licensee an opportunity to make submissions and give evidence in relation to the matter.

(3)  A revocation takes effect –

(a) 28 days after a notice is served under subsection (2) (a) ; or

(b) [Section 29 Subsection (3) amended by No. 73 of 2001, Sched. 1, Applied:01 Jul 2002] if an application for a review is made under section 42 , on the day on which the Court affirms the decision.