(1) When, as a result of a formal investigation, Wreck Commissioner—
(a) is satisfied that any master, mate or engineer—
(i) is unfit to discharge his or her duties whether by reason of incompetence or misconduct or for any other reason,
(ii) has been seriously negligent in the discharge of his or her duties, or
(iii) has failed to give any assistance or information required by section 241; and
(b) in a case under paragraph (a)(i) or (a)(ii), is further satisfied that that circumstance caused or contributed to a casualty,
the Wreck Commissioner may cancel or suspend any certificate or licence issued under section 111 or section 113 to the officer concerned or may censure the officer.
(2) Where a certificate or licence is cancelled or suspended under subsection (1), the officer concerned shall deliver that certificate or licence to the Wreck Commissioner or the Director.
(3) Despite subsection (1), a Wreck Commissioner may not cancel or suspend a certificate or licence unless at least 1/2 of the number of assesors concur, and each assessor who does not concur shall state in writing his or her dissent and his or her reasons therefor.
(4) A copy of the report made to the Minister under section 439(7) shall be furnished by the Wreck Commissioner to any officer whose certificate or licence is cancelled or suspended, or who is censured.