Action in case of default and manner of suspension or cancellation of Certificate of Registration

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....ay take appropriate action as it deems fit, including suspension or cancellation of the registration of an MGA, after due notice and giving it a reasonable opportunity of being heard, if it, inter-alia - (a) violates the provisions of the applicable laws; (b) fails to furnish any information relating to its activities as an MGA as required by the Competent Authority; (c)....

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....these regulations; (i) is found guilty of misconduct or its conduct is not in accordance with the Code of Conduct specified under these regulations; (j) fails to maintain the capital, Net Worth and deposit requirements in accordance with these regulations; (k) fails to pay the fees, penalties imposed or the reimbursement of expenses under these regulations; (l) ....