—(1) Where the Minister is satisfied that any company to which a certificate or letter has been issued under the provisions of this Act has contravened —
any of the provisions of this Act; or
any terms or conditions imposed on the certificate or letter,
he may, by notice in writing, require the company within 30 days from the date of service of the notice to show cause why the certificate or letter should not be revoked.
(2) If the Minister is satisfied that, having regard to all the circumstances of the case it is expedient to do so, he may revoke the certificate or letter.
(3) Where a certificate or letter is revoked under subsection (2), the Minister shall specify the date, which may be the date of the certificate or letter, from which its revocation shall be operative and the provisions of this Act shall cease to have effect in relation to the certificate or letter from that date.