Queensland Numbered Acts Queensland Numbered Acts(1) A licensee's licence is cancelled on the happening of any of the following events—
(a) the licensee is convicted of a serious offence;
(b) if the licensee is an individual, the licensee is an insolvent under administration;
(c) if the licensee is a corporation, the licensee has been wound up or deregistered under the Corporations Act.
(2) The licensee must return the licence to the chief executive within 14 days after the happening of an event mentioned in subsection (1), unless the licensee has a reasonable excuse.
Maximum penalty for subsection (2)—100 penalty units.