Revocation, cancellation or suspension of licence, etc.
56.—(1)  Subject to subsection (3), the licensing officer may by order revoke any licence if the licensing officer is satisfied that —
(a)the licensee has failed to comply with —
(i)any condition to which the licence is subject; or
(ii)any provision of this Act that is applicable to the licensee, and the contravention of which is not an offence;
(b)the licence had been obtained by fraud or misrepresentation;
(c)at the time the licence was granted or renewed, the licensing officer was unaware of an existing circumstance that would have required or permitted the licensing officer to refuse to grant or renew the licensee’s licence;
(d)the licensee is no longer eligible to hold a licence under section 50;
(e)the licensee has been adjudged a bankrupt in Singapore or elsewhere;
(f)the licensee is subject to a debt repayment scheme under Part 15 or a voluntary arrangement under Part 14 or is subject to a similar scheme or arrangement outside Singapore;
(g)the licensee is subject to a disqualification order made under section 149 of the Companies Act 1967 or a similar order under the laws of any foreign country;
(h)the licensee has been convicted of an offence under this Act;
(i)the licensee has been convicted in Singapore or elsewhere of an offence involving fraud, dishonesty or moral turpitude;
(j)the licensee is no longer a fit and proper person to continue to hold the licence;
(k)it is undesirable in the public interest for the licensee to continue as a licensee; or
(l)the licensee has died.
(2)  Subject to subsection (3), the licensing officer may, in any case in which the licensing officer considers that no cause of sufficient gravity for revoking any licence exists, by order —
(a)suspend the licence for a period not exceeding 6 months;
(b)direct the licensee to pay a penalty of not more than $100,000;
(c)censure the licensee concerned; or
(d)modify any condition of the licence, or impose such other conditions, as the licensing officer considers appropriate.
(3)  The licensing officer must give the licensee written notice of —
(a)the licensing officer’s intention to exercise any power under subsection (1) or (2), and the ground for the exercise of such power; and
(b)the date on which the licensing officer intends to exercise the power.
(4)  The licensing officer must not, during a period of 30 days after the licensing officer informs the licensee of such intention, exercise any power under subsection (1) or (2), unless the licensee concerned is given an opportunity to be heard, whether in person or by a representative and whether in writing or otherwise.
(5)  Where the licensing officer has by order revoked a licence under subsection (1) or made any order under subsection (2) in respect of a licensee, the licensing officer must serve on the licensee concerned a notice of the order.
(6)  An order under subsection (1) or (2) revoking or suspending a licence takes effect at the end of 14 days after the service of the notice of the order on the licensee under subsection (5).
(7)  In any proceedings under this section consequent upon the conviction of a licensee for a criminal offence, the licensing officer must accept the licensee’s conviction as final and conclusive.
(8)  In deciding for the purposes of this section whether a licensee is a fit and proper person to continue to hold a licence, the licensing officer may take into account any matter the licensing officer considers relevant, including any matter mentioned in section 51(8).
(9)  Subsections (4), (5) and (6) do not apply where the licensing officer revokes a licence on the ground mentioned in subsection (1)(l).
(10)  If a licensee submits a request in writing to the licensing officer to cancel the licensee’s licence and to have the licensee’s name removed from the register of licensed insolvency practitioners, the licensing officer may (subject to such conditions or directions which the licensing officer may impose or give) cancel the licence and remove the licensee’s name from the register.