CFR > Title 46 - Shipping > CHAPTER IV—FEDERAL MARITIME COMMISSION > SUBCHAPTER B—REGULATIONS AFFECTING OCEAN SHIPPING IN FOREIGN COMMERCE (parts 515 to 545) > PART 515—LICENSING, FINANCIAL RESPONSIBILITY REQUIREMENTS, AND GENERAL DUTIES FOR OCEAN TRANSPORTATION INTERMEDIARIES > SUBPART B—Eligibility and Procedure for Licensing (§515.11 to §515.18) > 515.16—Revocation or suspension of license.

515.16—Revocation or suspension of license.

(a) Grounds for revocation. Except for the automatic revocation for termination of proof of financial responsibility under § 515.26, or as provided in § 515.25(b), a license may be revoked or suspended after notice and an opportunity for a hearing for any of the following reasons:
(1) Violation of any provision of the Act, or any other statute or Commission order or regulation related to carrying on the business of an ocean transportation intermediary;
(2) Failure to respond to any lawful order or inquiry by the Commission;
(3) Making a materially false or misleading statement to the Commission in connection with an application for a license or an amendment to an existing license;
(4) Where the Commission determines that the licensee is not qualified to render intermediary services; or
(5) Failure to honor the licensee's financial obligations to the Commission.
(b) Notice of revocation. The Commission shall publish in the Federal Register a notice of each revocation.