105NCancellation of licences

#### 105N Cancellation of licences 105N Cancellation of licences > > (1) The Authority may, by notice served on the licence holder, cancel a licence granted under this Part. > > > (2) The Authority may cancel a licence for any reason it thinks fit, but must give the reasons for its decision. > > > (3) Without affecting the generality of subsection (2), the Authority may cancel a licence for reasons that relate to the insurance scheme under Part 6 (including any alternative arrangements under Part 6B) generally, whether or not the reasons relate to the efficiency and conduct of the licence holder. > > > (4) The Authority must, as far as practicable, give a licence holder whose licence it proposes to cancel an opportunity to make representations on the matter. > > > (5) A licence surrendered by a licence holder is not cancelled until the Authority approves of the surrender. > > > (6) The Authority must not cancel a licence unless the Authority is satisfied that the licence holder has discharged all of its past, present and future liabilities— > > > > > (a) under any building cover contract in respect of which it is the insurer or provider, and > > > > > (b) to the Home Building Operational Fund or a guarantee fund under Part 6A, and > > > > > (c) to any other licence holder, > > > > or that the holder has provided security or entered into other arrangements satisfactory to the Authority in respect of those liabilities. > > > (7) If the Authority is unable to cancel a licence because of any such liabilities, the Authority may, instead, impose a condition on the licence that prohibits the licence holder from entering into any further building cover contracts. > > > (8) This section does not apply to the Self Insurance Corporation. > > **ss 105A–105R:** Ins 2017 No 28, Sch 1 \[61\].