Cancellation, suspension and amendment of licences

(1) If the authorised officer is satisfied either on a reference made to him in this behalf or otherwise, that,- (a) a licence granted under section 6 has been obtained by fraud or mis-representation as to an essential fact; or (b) the licence has, without reasonable cause, failed to comply with the conditions subject to which the licence has been granted or has contravened any of the provisions of this Act or any order or rule made thereunder, then without prejudice to any other penalty to which the licensee may be liable under this Act, the authorised officer may, after giving the holder of the licence a reasonable opportunity of showing cause, cancel or suspend the licence or forfeit the whole or any part of security if any, furnished for the due performance of the conditions subject to which the licence has been granted. (2) Subject to any rules that may be made in this behalf, the authorised officer may also vary or amend a licence granted under section 6.