Revocation of licence

(1) Notwithstanding section 8, the Registrar may at any time revoke a moneylender’s licence if– (a) it is entitled to take enforcement action against the moneylender under section 30F; 24 (b) the moneylender has failed to commence or ceased to carry on the moneylending business for which it was licensed; or (c) the moneylender has purported to transfer the licence in contravention of section 11. (2) The Registrar may, on the application of a moneylender, cancel the moneylender’s licence, subject to such conditions as the Registrar considers appropriate. (3) Subject to sub-section (4), before revoking a license under sub-section (1), the Registrar shall give written notice to the moneylender– (a) stating the grounds upon which it intends to revoke the licence; and (b) containing a statement to the effect that unless the moneylender, by written notice filed with the Registrar, shows good reason why the licence should not be revoked, the licence will be revoked on a date not less than 14 days after the date of the notice. (4) If, on the application of the Registrar, the Supreme Court is satisfied that it is in the public interest, or the interests of any borrowers, potential borrowers, or creditors of a moneylender, that sub-section (3) should not have effect or that the period referred to in sub-section (3)(b) should be reduced, it may so order. (5) An application under sub-section (4) may be made without notice or upon such notice as the Supreme Court may require.