Surrender of licence on closing down of business

(1) Every security company which is licensed to engage in the business of providing private investigation or security services shall, immediately upon closing down its business, surrender and forward its licence to the Commissioner. (2) Any person who, without reasonable excuse, fails to forward a licence to the Commissioner as soon as reasonably practicable after he is required to do so under this section, commits an offence and shall be liable on summary conviction Private Security and Investigation Services (Control) 11 to a fine not exceeding five hundred dollars or to imprisonment for a term not exceeding six months, or both to such fine and imprisonment.