Notice before cancellation

(1) Before cancelling a certificate of registration Under section 78e, the Director shall give notice to the promoter, or the estate agent, as the case may be, specifying the grounds and calling upon him to show-cause why the certificate of registration should not be cancelled. (2) After considering the explanation, if any, offered by the promoter, or, the estate agent, as the case may be, the Director may cancel the certificate of registration, or pass such orders as it may deem fit. (3) Notwithstanding anything contained in sub-sections (1) and (2), the Director may suspend the certificate of registration of a promoter or an estate agent, as the case may be, pending decision on the matter of cancellation of the certificate of registration. (4) Where any certificate of registration is suspended or cancelled under this Act, no person shall be entitled to any compensation or the refund of any fee paid in respect thereof: Provided that if such person intends to withdraw his application at the processing stage, he shall be entitled to the refund of seventy five percent of such fee.