Section 30Part 3 — Licensing
Suspension or revocation of licence
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The Office may suspend or revoke a licence where the licensee —
is in fundamental breach of the licence;
persistently breaches any condition attached to the licence or repeatedly contravenes this Law;
is dissolved;
is wound up or declared bankrupt;
is convicted of an offence under this Law and punished by a fine in excess of three hundred thousand dollars;
fails to pay any licence fee, regulatory fee or financial commitment under this Law for a continuous period in excess of three months;
is to be struck or is struck from the register of companies;
compounds with its creditors to the detriment of the public interest;
obtained the licence by a fraudulent, false or misleading representation or in some other illegal manner; or
having had his licence suspended, has failed to rectify any ground for suspension under this section within a period of one year following upon the date of any such suspension.
Notwithstanding subsection (1), the Office, on the order of the Cabinet, shall, without notice, suspend or revoke any licence if the suspension or revocation is necessary for reasons of the security or the public interest of the Islands.
The Office shall, before suspending or revoking a licence under subsection (1), give fourteen days written notice to the licensee, in which notice the Office shall draw to the attention of the licensee the grounds on which the Office intends to suspend or revoke the licence.
Before suspending or revoking a licence under subsection (1)(a) or (b), the Office may give an opportunity to the licensee to remedy the breach, if capable of remedy, within a reasonable time and in any event before the expiration of the fourteen day period of notice given under subsection (3) if the public interest or security of the Islands is not harmed in so doing.
Upon revocation of a licence under this section, the Office shall compel compulsory divestiture of the licensee's T&D or generation assets, as the case may be, and section 27(3), (4) and (5) shall, with the necessary changes being made, apply to the valuation of such T&D or generation assets, as the case may be.
Cross References
- Section 27 of Electricity Sector Regulation Act
section 27(3), (4) and (5)