(1) The Board may, where it is satisfied that a licence under this regulation has failed to utilize the licence contrary to any condition of the licence, revoke the licence.

(2) No licence shall be revoked by the Board unless the Board has given the licensee-

(i) at least 14 working days notice of its intention to revoke the licence;

(ii) the reasons for the intended revocation;

(iii) an opportunity to make representations to the Board; and any representations made have been considered by the Board.

(3) Where a developer’s licence is revoked for inability to commence development within the stipulated period, and he wishes to be reconsidered for a new licence, a fresh application shall be submitted to the Board and there shall be attached to the application the reason why the new application should be reconsidered by the Board.