Section 4: Nature and effect of licence to operate

(1) A licence granted by the Minister under the provisions of section 3 shall be valid and operative for two years from the date of issue.
(2) Any such licence shall specify the number of offices, branches or other places of business which the company is permitted to maintain.
(3) A licence may be suspended or revoked by the Minister at any time if he is satisfied that the company holding the licence is unsuitable to continue to hold such licence.
(4) A licence may be suspended or revoked by the Minister at any time where in his opinion the ownership or control of, or any controlling interest in the company to which the licence relates has passed to any other company or organisation which is generally unsuitable to be considered for the grant of such licence.