Right of appeal against grounds for cancellation, etc

(1) The Supervisor may notify in writing a person licensed under this Part that he proposes to cancel such person’s licence, giving his reasons for doing so, and notifying such person of his right under section 174 to request the Supervisor to refer the proposal for review by the Minister, if at any time the Supervisor is satisfiedetc. (a) that such licensing was procured as a result of any misleading or false representation or in consequence of any incorrect information (whether such representation or information was made or supplied wilfully or otherwise); (b) that such person has become disqualified for such licensing by virtue of section 82; 120 (c) that such person is carrying on business otherwise than in accordance with sound insurance principles and practice; (d) that such person has not, within a period of one month from a date on which the Supervisor demanded from him in writing any information which he was entitled under this Act to demand from him, furnished that information duly and satisfactorily; (e) that such person has been guilty of a fraudulent or dishonest practice; (f) that such person has demonstrated that he is not sufficiently competent and knowledgeable to carry on business in the class or classes of insurance in respect of which he was licensed or that he is otherwise not a fit and proper person to carry on such business; (g) that such person has contravened any of the provisions of this Act or any condition, direction or requirement imposed under this Act by the Minister or by the Supervisor or has been an accessory to the contravention thereof by any other person; or (h) that the person has repeatedly and unreasonably delayed transmitting monies received for the account of an insurer or client to the person entitled thereto. (2) Where the Supervisor has notified any person that he proposes to cancel that person’s licence, he may suspend that person’s licensing pending the outcome of any review of that proposal under section 174 and shall notify that person of any such suspension. 121