| (1) |
The registrar may cancel or suspend the licence of an association on such conditions as he or she may determine if he or she is satisfied— |
| (a) |
that the association has failed— |
| (ii) |
to comply with any direction, request, condition or requirement of the registrar in terms of this Act; or |
| (iii) |
to comply with any other provision of this Act, |
and that such failure has resulted or could result in prejudice of a material extent to the interests of the public or investors;
| (b) |
after an investigation or inspection in terms of section 14, that the manner in which the functions of an association are performed is unsatisfactory or not calculated to serve the best interests of the public or investors; |
| (c) |
that the association has ceased to perform its functions; |
| (d) |
that the association failed to start performing its functions within a reasonable period after its licensing; or |
| (e) |
that the licence was obtained through misrepresentation. |
| (2) |
Cancellation or suspension of a licence under subsection (1) is of no force unless the registrar has by notice in writing given the association concerned his or her reasons for the intended cancellation or suspension and an opportunity to show cause within a period specified in the notice why its licence should not be cancelled or suspended. |
Statistics Act, 1999
