(1) The Bank may -

(a) revoke an authorisation if the person to whom it was granted so requests,

(b) with the consent of the Minister, revoke an authorisation if the person to whom it was granted -

(i)

(I) has not commenced to carry on moneybroking business within 12 months of the date on which the authorisation was granted, or

(II) has ceased to carry on moneybroking business and has not carried it on during a period of more than 6 months immediately following the cesser,

(ii) is adjudicated bankrupt,

(iii) being a partnership, the partnership is dissolved by death or bankruptcy of any partner, or otherwise under the law of partnership,

(iv) being a company, is being wound up,

(v) has obtained the authorisation through false statements or any other irregular means,

(vi) becomes unable to meet his obligations to his creditors or suspends payments lawfully due by him or can no longer be relied upon to fulfil his obligations towards his creditors and in particular no longer provides security for the assets entrusted to him,