41. Effect of suspension, cancellation, surrender or expiry of an individual licence

Where the suspension or cancellation of an individual licence under section 37, or the surrender of an individual licence under section 35, has taken effect, or where the individual licence has expired, the licensee shall immediately cease to provide any facility or service in respect of which the individual licence was granted.

Notwithstanding subsection (1), the Minister may, on the recommendation of the Commission, authorize the licensee in writing to carry on providing any facility or service for such duration as the Minister may specify in the authorization for the purpose of winding up the licensee’s affairs.

Notwithstanding subsection (1), the licensee whose individual licence has expired shall be entitled to carry on providing a facility or service as if his individual licence had not expired upon proof being submitted to the Commission that the licensee has applied for the renewal of the individual licence in accordance with section 34 and that such application is pending determination by the Minister.

Subject to subsections (2) and (3), a person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding five hundred thousand ringgit or to imprisonment for a term not exceeding five years or to both.