Suspension and revocation of licence
12.—(1)  The Authority may suspend or revoke a licence granted under these Regulations by notice in writing addressed to the licensee on the grounds that the licensee had in his application for the licence furnished false, misleading or inaccurate information or that there has been misuse of equipment or failure to comply with any of the provisions of the Act, these Regulations or with any condition of the licence.
(2)  Where a licence is suspended or revoked by the Authority, the licensee shall surrender the licence to the Authority if requested by the Authority within such time as the Authority may specify.
(3)  Where a licence is suspended or revoked by the Authority or where a licence is terminated by a licensee, no compensation shall be paid by the Authority to the licensee and no fee or part thereof shall, unless provided for in the licence, be refunded by the Authority to the licensee in respect of the unexpired period of such licence.