(1) The Board may revoke a licence issued under the former Act or an alien landholding licence —
(a) for breach of a condition of the licence issued under the former Act or an alien landholding licence;
(b) for failure to pay the non-refundable non-development fee or non-operation fee;
(c) where a licence issued under the former Act or an alien landholding licence was obtained by misrepresentation, fraud or wilful concealment of material facts;
(d) where an alien investor —
(i) provides false information,
(ii) is considered to be a national security risk,
(iii) is involved in an activity that is likely to cause disrepute to Saint Lucia,
(iv) is convicted of a criminal offence, except in the case of a minor traffic offence or an offence that is spent under the Criminal Records (Rehabilitation of Offenders) Act irrespective of the time or location of the commission of that offence.
(2) Where a licence issued under the former Act or an alien landholding licence is revoked under subsection (1), the Board shall give written notice, within 7 business days, to the alien investor of the revocation.
(3) A notice issued under subsection (2) must contain —
(a) the reason for revoking the licence issued under the former Act or an alien landholding licence;
(b) that the land, with respect to which a licence was issued under the former Act or an alien landholding licence, is liable to be forfeited to the Crown in accordance with the forfeiture proceedings set out under Part 5.
(4) The holder of a licence issued under the former Act or an alien landholding licence that is revoked under subsection (1) shall surrender that licence to the Board.