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