Section 122: Power to revoke or suspend licences

Without prejudice to the power contained in subsection (2) of section 124 of this Act, the Board may by notice in writing revoke or suspend any excise licence where the holder of such licence -
(a) has been convicted of an offence under the excise laws; or
(b) has been convicted of any offence involving dishonesty or fraud; or
(c)
has become a bankrupt or has entered into any arrangement or composition with or for the benefit of his creditors; or
(d) has failed to pay any excise duty at the time when it was payable.