Amendment status not verified — confirm the current text below against the official source.
(1) Every licence granted under section 4 or renewed under section 6 may be suspended or cancelled by the prescribed authority.- (i) if in its opinion the licensee- (a) has applied to be adjudicated, or been adjudicated, an insolvent; or (b) has parted, in whole or in part, with his control over the warehouses; or (c) has ceased to conduct such warehouses; or (d) has made unreasonable charges for the services rendered by him; or (e) has in any other manner become incompetent to conduct such warehouse; or (f) has contravened or failed to comply with, any of the terms and conditions of the licence or any of the provisions of this Act or the rules; or (ii) on any other prescribed ground. (2) If a licence is suspended or cancelled the prescribed authority shall make an entry to that effect in the licence. (3) Whenever a licence is suspended or cancelled under this section, it shall be competent for the prescribed authority to order also a forfeiture of the security, if any, furnished by the warehouseman.