PART SIX CANCELLATION AND SUSPENSION OF LICENSES 33. Revocation of a License 1) Where a Licensee contravenes any provisions of this Directive, the Authority may revoke the License of the Licensee or impose a fine according to the provisions of Article 52 of the Proclamation. 2) When deciding to revoke a license the Authority shall consider the following: a) Nature and gravity of the infraction; b) Consequence of the infraction; c) Circumstances under which the infraction occurred; and, d) Steps taken to remedy the infraction. 3) A License may be revoked for any of the following grounds: a) If the Licensee breaches the provisions of this Directive or other regulations and directives enacted under the Proclamation; b) If the Licensee is in breach of any of the conditions attached to the License and fails to rectify the breach or reach an agreement with the Authority as to the process and timeline determined by the Authority for rectifying such breach; c) If the Licensee stops performing the activity for which the License is granted for six (6) months; d) If the licensee has engaged in fraud or submitted false information to the Authority or other agencies of the government in order to obtain the License; e) If the License has expired and has not been renewed; f) If the Licensee has filed for bankruptcy, liquidation or dissolution and/or has been unable to fulfill its financial and fiduciary duties; g) If the Licensee fails to begin its operations within twelve (12) months of receiving its License or fails to meet the specified conditions of its License obligations; h) If the Licensee engages in an act of conflict with the public interest; i) If the Licensee transfers, re-assigns or leases the License without the prior approval of the Authority; and, j) If the Licensee requests that the Authority to revoke its License. 3) Whenever the Authority proposes a notice of revocation to revoke a License, it shall so issue a notice of revocation to the Licensee and the Licensee shall be provided forty-five (45) working days to respond to the Authority’s notice of intention to revoke a License. 4) The Authority shall promptly render a final Decision, taking into account any arguments the Licensee presents in opposition to the Authority’s Decision to revoke its License. 5) If the Licensee fails to deliver a response within forty-five (45) working days, the Authority shall revoke the License and notify the Licensee in writing. 13