(1) The Agency may suspend or revoke a licence if it is satisfied that the authentication service provider has failed or ceased to meet any of the requirements, conditions or restrictions subject to which the licence was granted or recognition was given.

(2) The Agency shall not suspend or revoke a licence unless it has

(a) notified the licence holder in writing of its intention to do so,

(b) given a description of the alleged breach, and

(c) afforded the licensed holder the opportunity to

(i) respond to the allegations in writing, and

(ii) remedy the alleged breach.

(3) The Agency may suspend a licence with immediate effect for a period not exceeding ninety days pending implementation of the procedures required to remedy the breach where there is the likelihood of irreparable harm to consumers or third parties involved in an electronic transaction.

(4) A licence holder may surrender the licence to the Agency subject to the provisions of the licence and third party rights.

(5) The Agency shall publish the suspension or revocation of a licence in the Gazette.