221.302.3AOOFederal Council OrdinanceSep 1, 2007Original source
If a licensed individual or a licensed audit firm no longer meets the licensing requirements in accordance with Articles 11n –11p , the Oversight Authority may withdraw the licence for a limited or unlimited period.
Provided the licensing requirements can be met again, advance warning shall be given of withdrawal.
The Oversight Authority issues a written reprimand if withdrawal of the licence would be disproportionate.
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