If a licensee is
convicted of an offence involving —
(a)
defalcation by the licensee; or
(b) the
fraudulent rendering of an account, knowing it to be false in any material
particular, in respect of money or other property entrusted to him by or on
behalf of another person in the course of the licensee’s business; or
(c) a
breach of any one or more of the provisions of Division 2 of Part IV relating
to the proper payment in and out of the trust account of the licensee of money
entrusted to him by or on behalf of another person in the course of the
licensee’s business,
his licence and any
triennial certificate in respect thereof is thereby cancelled, and the
registrar of the court convicting him shall forthwith notify the Commissioner
accordingly.
[Section 85 amended: No. 59 of 2004 s. 141; No. 58
of 2010 s. 176.]