(1) A certificate of registration granted under section 21 shall be liable to be cancelled by the competent authority on the grounds mentioned in sub-section
(2) and by an order made in writing recording the reasons for such cancellation.
(2) A certificate or registration is liable to be cancelled, if the promoter or estate agent, as the case may be,-
(a) surrenders the certificate of registration as he does not wish to continue carrying on the business;
(b) has applied to be adjudicated or has been adjudicated an insolvent or is an undischarged insolvent;
(c) has been adjudicated to be of unsound mind by a competent court;
(d) has been convicted of an offence under this Act or under any law relating to construction or use of premises and a period of five years has not elapsed after that conviction;
(e) has contravened any of the terms or conditions of the certificate of registration or any of the provisions of this Act or the rules made thereunder.