(1) The Commissioner may without prejudice to any other proceedings which may be taken against the licensee by an order in writing, suspend or cancel the licence or forfeit the deposit made under these rules, if the licensee or any person in his employment contravenes any of the provisions of the Act or the rules made thereunder or the conditions of the licence, provided that before proceeding under this rule the Commissioner shall give the licensee a notice in writing stating the grounds on which it is proposed to take action against him and requiring him to show cause against it within such time not ordinarily exceeding 14 days as may be specified in the notice.
(2) The licensee shall not be entitled to claim any compensation on account of suspension or cancellation or non-renewal of the licence.
(3) Nothwithstanding anything contained in the said sub-rule (1), the Commissioner may cancel a licence without any notice if the licensee is adjudged as an insolvent by a competent court.