Section 20I
Revocation of licence
of Companies Commission of Malaysia Act 2001
The Commission shall have the power to revoke the licence granted or renewed pursuant to section 20F on the following grounds:
Companies Commission of Malaysia 29
(a)
contravention of any of the provisions under this Act or the laws specified in the First Schedule;
(b)
conviction of an offence under any other laws in Malaysia;
(c)
contravention of any of the conditions or restrictions imposed in relation to the issuance of the licence;
(d)
the person becomes a bankrupt; or
(e)
the person who has been licensed fails or ceases to carry on the service or activity to which the licence relates.
(2)
The Commission shall not revoke a licence unless the licensed person has been given an opportunity to be heard.