—(1) The Registrar may cancel a licence and forfeit the whole or such part of the money deposited with the Accountant-General under section 9(1)(e) as the Registrar may think fit if he is satisfied that —
the licensed pawnbroker’s shop is being conducted in an improper or unsatisfactory manner;
the licensee has been convicted of an offence under this Act;
the licensee has failed to comply with any of the conditions upon which the licence was granted; or
since the grant of the licence, the licensee or the premises has ceased to comply with any of the requirements set out in section 9(1).
(2) The Registrar shall, before cancelling a licence and forfeiting any money under subsection (1), give the licensee concerned notice in writing of his intention to do so specifying a date, not less than 14 days after the date of the notice, upon which the cancellation and forfeiture shall be made and calling upon the licensee to show cause to the Registrar why his licence should not be cancelled and why his money should not be forfeited.
(3) The Registrar, on receiving any representation from a licensee, may, instead of cancelling a licence and forfeiting any money under subsection (1), impose a penalty not exceeding $20,000 on the licensee and may recover the penalty from any cash deposit or other form of security given by the licensee to the Registrar.
(4) Any cancellation of a licence shall not affect the duties and liabilities of the licensee as a pawnbroker under this Act.