(1) The Authority may revoke any licence to carry on money services business in Saint Lucia if the licensee—
(a) fails to commence operations within a period of 3 months following the granting of the licence; or
(b) fails to comply with the conditions or restrictions of the licence; or
(c) is in breach of any of the provisions of this Act; or
(d) ceases to carry on money services business in Saint Lucia for a period exceeding 10 months; or
(e) is conducting its affairs in a manner detrimental to the public interest or to the interest of customers; or
(f) goes into liquidation or is wound up or otherwise dissolved; or
(g) by reason of any other circumstances, is no longer a fit and proper person to hold a licence.
(2) The Authority shall terminate a licence at the request of the licensee.
(3) Before revoking a licence under subsection (1), the Authority shall give the licensee concerned notice in writing of the Authority's intention to do so, specifying the grounds upon which the Authority proposes to make the revocation and shall require the licensee to submit to the Authority within a specified period being not less than 30 days, a statement of objections to the making of the revocation and thereafter, the Authority shall give the licensee notice in writing of its decision.
(4) The Authority shall serve a notice under subsection (3) by leaving it at the licensee's last known address and shall be published in the Gazette or in at least 2 newspapers in general and at least weekly circulation in Saint Lucia.
(5) If any licensee is aggrieved by any decision made under subsection (1), that licensee may appeal to the High Court within fourteen days of service of the notice of such decision, setting out the grounds of such appeal, and the High Court may revoke or confirm the decision.
(6) Where a licence to carry on money services business in Saint Lucia has been revoked, the Authority shall, as soon as possible after the revocation cause a notice of the revocation to be published in the Gazette and a newspaper circulating in Saint Lucia and cause such other steps to be taken as are deemed to be necessary to inform the public of the revocation.