Management and Investment Companies Act 1983
24Suspension of licence
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24 Suspension of licence
(1) By notice in writing served on a licensee, the Board may suspend the licence for a period not exceeding 2 months on any ground referred to in subsection 23(1) on which the Board may revoke the licence, and, in addition, may suspend the licence where the Board is satisfied that the licensee is likely to contravene this Act or the regulations, but the Board shall not suspend a licence on any other ground. (2) A notice under subsection (1) shall state the reasons of the Board for the suspension. (3) The Board may at any time remove a suspension under subsection (1).