( 1) If the authorised officer is satisfied, either on a teference made to him in this behalf or other wtsc, that-
(a) a licence gtanted under section 6 has been obtained by mis representation as to an essential fact , or
(b) the holder of a licence has, Without reasonable can se, failed 1 o comply with the conditions ~ubject to \Vhich the licence has been granted 0 o.r has contravened any of the p1 ovi~ions of thts Act or any order or rule mdde thereunder, then, without prejudice to any other penalty to which the holder of the licenre may be liable under this Act, the authorised officer 1na y, after givtng the holder of th~ 1 icencc a reasonable oppo1 tunity of sho\vtng cause, cancel or ~nspend the li~ence or forfeit the \vhole or any part oi the security, if any, furnished for the due pe1for1nance of the conditions subject to which the hcence has been g1anted.
(2) Subject to any rules that may be made 1n. this behalf, the a'Jth(Jl ised officer may also 'ary or amend a licente granted under section 6.