| 1. | VARA may revoke or suspend a Licence (in relation to all or certain VA Activities), if a VASP does not—
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| | a. | carry out all or some of the VA Activities authorised under the Licence for an extended period; and |
| | b. | notify VARA of its plan to reinstate or carry out relevant VA Activities.
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| 2. | In the event that a VASP intends to cease to carry out any VA Activities authorised under its Licence, it shall notify VARA and request a revocation of either—
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| | a. | in the event that all VA Activities authorised under a Licence are to be ceased, the Licence; or |
| | b. | in the event that only some of the VA Activities authorised under a Licence are to be ceased, the VA Activities to be ceased.
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| 3. | VASPs shall notify VARA as soon as reasonably practicable and in any event not later than thirty (30) Working Days before such intended cessation.
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