(1) The Commission may at any time revoke or suspend a clearing agency licence granted under this Part if it appears to the Commission that the holder of the clearing agency licence—
(a) has ceased to operate a clearing agency;
(b) has failed to comply with any obligation to which it is subject under this Act; or
(c) is operating in a manner detrimental to the public interest.
(2) Where the Commission suspends a licence, the suspension may be for the period, or until the happening of an event, the Commission considers appropriate.
(3) The Commission shall not revoke or suspend a clearing agency licence without first giving the holder of the licence an opportunity of being heard.