Licence revocation and security forfeiture permitted where broker breaches bond, regulations, is insolvent, unsound, or convicted. The Principal Commissioner or Commissioner of Customs may, subject to regulation 17, revoke a customs broker's licence and order partial or total forfeiture of security where the broker fails to comply with bond conditions under regulation 8, breaches these licensing regulations, commits misconduct rendering them unfit (within or outside jurisdiction), is adjudicated insolvent, is of unsound mind, or is convicted of an offence involving moral turpitude or other offences.