If it appears to the Commission in light of an inspection under section 136 that—
(a) there are circumstances suggesting that the licensee may not be a fit and proper person to continue to hold a licence;
(b) there has been a contravention by the licensee of this Act or any Regulations made under this Act; or
(c) it is desirable for the protection of investors and the Commission decides that the matter should be the subject of disciplinary proceedings, the Commission shall refer the matter to the Disciplinary Committee for a determination.
(Inserted by Act 12 of 2007)