Scope
(1) This section applies if a corporation is the holder of a reporting transfer certificate in relation to a facility.
Cancellation
(2) The Regulator must, by written notice given to the corporation, cancel the certificate if the Regulator is satisfied that:
(a) the corporation does not pass the reporting transfer test in relation to the facility concerned; or
(b) the corporation has become a Chapter 5 body corporate; or
(c) if the regulations specify one or more other grounds for cancellation--at least one of those grounds is applicable to the corporation.