Any approval may be withdrawn or suspended for the following reasons:
- Conviction of the beneficiary of the approval for any violation of the provisions of the law and its statutory instruments of application;
- Bankruptcy or winding up of the beneficiary company;
- Use of a falsified approval.
The decision to suspend an approval shall fix the duration of such suspension which may not exceed one (1) year. After this deadline the withdrawal decision shall be taken.
Any withdrawal or suspension decision must set out the reasons therefore and must be notified to the company concerned. It may only be taken upon the compulsory recommendation of the ad hoc commission.
Failure to take out the insurance policy shall result in the temporary closure of the establishment by the maritime authority. It may be re-opened only upon the presentation of the insurance policy.
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