Topics / Suspension and revocation by operation of law
A broker applies in writing to cancel its license, and the application was not made to avoid suspension or revocation proceedings. How may the license be cancelled?
- Without prejudice
- By operation of law
- Only after a hearing
- With prejudice only
Show the answer
A. Without prejudice
The appropriate Executive Director, Office of Trade, may cancel a license or permit without prejudice on written application if the application was not made to avoid suspension or revocation proceedings.
Source: 19 CFR 111.51(a)
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