Each of the following is a ground for cancelling a racing bookmaker’s offcourse approval—
(a) the racing bookmaker has contravened—(i) a condition of the offcourse approval; or(ii) the accepted undertaking for the offcourse approval;
(b) the offcourse approval was granted because of a materially false or misleading representation or declaration;
(c) the racing bookmaker has been convicted of an indictable offence or an offence against this Act or the Racing Act;
(d) the racing bookmaker is affected by bankruptcy action.