Revocarian at
Re: Piyur Kulito..
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(c) on the ground of failure by such person to comply with sub- section (1) or with any requirement of the Commissioner under subsection (2).
(4) The Commissioner shall issue to a registered person whose registra- tion is renewed under subsection (1) an appropriate certificate of registration which shal
(a)
(0)
be valid for a period of 12 months beginning with the day of the expiry of the certificate of registration held by the registered person at the time of his application for renewal, and
be subject to such conditions as the Commissioner thinks fit,
(3) Nothing in this section shall be construed as preventing a renewal of the registration of a registered person that has been renewed from being further renewed under this section.
(6) The Commissioner shall not refuse to renew the registration of a registered person under subsection (3) without first giving such person an opportunity of being heard.
(7) Where the Commissioner refuses to renew the registration of a registered person under subsection (3), be shall notify such person in writing to that effect staling (bo reasons for the refusal.
35. (1) The registration of a registered person is deemed to be re- voked, in the case of-
(a) an individual, if the individual dies;
(b) a corporation, if the corporation is wound up;
(c) a firm, if the partnership is dissolved.
(2) The Commissioner may revoke the registration of a registered
peram-
(a) in the case of a registered person who is an individual—
(j) on any ground on which the Commissioner may refuse to register under section 32(1)(a)
(ii) if a levy of execution in respect of hìm has not been satisfied;
(D) if he ceases to carry on the business for which he was registered; or
(iv) if in the case of a representative, the registration of the dealer or commodity trading adviser, in relation to whom the certificate of registration of the representative was granted, is revoked;
(8) in the case of a registered person that is a corporation-
(1) on any ground on which the Commissioner may refuse to register under section 32(1)(8)
(i) if it is being or will be wound up:
(iii) if a levy of execution in respect of it has not been satisfied; (iv) if it has entered into any composition or scheme of ar rangement with its creditors; ar
(v) if it ceases to carry on the busines for which it was registered; or
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(c) in the case of a registered person that is a firma-
() on any ground on which the Commissioner may refuse to register under section 32(1)(c)
(i) if the partnership is being or will be dissolved;
(ii) if a levy of execution in respect of it has not been satisfied;
(iv) if it has entered into any composition or scheme of arrange- ment with its creditors; or
(v) if it ceases to carry on the business for which it was repia- texted
(3) The Commissioner may revoke the registration of a registered person at the request of such person.
(4) The Commissioner shall not revoke the registration of a registered person under subsection (2) without first giving such person an opportunity of being heard.
(5) Where the Commissioner revokes the registration of a registered person under subsection (2) he shall notify such person in writing to thal effect stating the reasons for the revocation and specifying the date on which the revocation shall take offect.
36. (D) The Commissioner may inquire into any allegation-
(a) that a registered person-
(i) is or has been guilty of any misconduct; or (D) is no longer a fit and proper person to continue to remain registered by reason of any other esrcumstances which have led, or are likely to lead, to the improper conduct of business by him or to reflect discredit on the method of conducting his business; or
(b) that, in the case of a registered person that is a corporation or firm, a director, partner or employee accredited to the corporation or firm, as the case may be, who is a registered person—
() is or has been guilty of any misconduct; or
(f) is no longer a fit and proper person to continue to remain registered by reason of any other circumstances which have Jed, or are likely to lead, to the improper conduct of business by him or to reflect discredit on the method of conducting his businsan,
(2) (1 after inquiring into an allegation under subsection (1) against o registered person, the Commissioner in of the opinion that the allegation is proved, he may if he thinks fit-
(a) revoke the registration of the person;
(6) suspend the registration of the person for such time, or until the happening of such event, as the Commissioner may determine; or (c) reprimand the person.
(3) The Commissioner shall, at the bearing of an inquiry into an allegation under subsection (1) against a registered person, give the person an opportunity of being heard.
(4) Where the Commissioner revokes or suspends the registration of a registered person, or reprimands a registered person, under subsection (2 be shall notify the person, and the corporation or firm (if any) to which bé is accredited, in writing to that effect stating the reasons therefor, and, la the case of a revocation or suspension of registration, specifying the date on which the revocation or suspension shall take effect
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I co pl misconduct.
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