Section 37: Cancellation of registration of an insurance broker.

If the Commission is satisfied that a registered insurance broker-(a) has knowingly or recklessly contravened the provisions of this Part of this Act;
(b) practises as a loss adjuster;
(c) has, for the purpose of obtaining a licence or paying a levy to the Commission made a statement which is false in any material particular;
(d) has been found guilty by a court of competent jurisdiction of fraudulent or dishonest practice (including misappropriation of clients money) ; or
(e) has taken actions contrary to the Code of Conduct of the profession, the Commission shall inform the broker in writing and give notice of the Commission's intentions to cancel the registration and the provision of section 7 of this Act shall apply as if references in that section to the applicant were references to an insurance broking firm or company.