(1) The Authority may —
(a) deregister a supervised entity if —
(i) subject to paragraph (b), the supervised entity notifies the Authority that it has ceased to carry on other business activity and requests to be deregistered, or
(ii) the registration of the supervised entity is revoked under section 10; or
(b) refuse to deregister a supervised entity under paragraph (a)(i) if the Authority is of the opinion that the deregistration of the supervised entity hinders the Authority in the exercise of its functions.
(2) Where the Authority deregisters a supervised entity, the Authority shall cause a notice of the deregistration to be published in the Gazette, a weekly newspaper circulating in Saint Lucia and posted on the Authority's website.
(3) Subject to sections 4 and 5, a supervised entity that is deregistered under this section shall re-apply for registration as a supervised entity.