s 18 Power to revoke or suspend gas licence
18.—(1) If the Authority is satisfied that —(a) a gas licensee has gone into compulsory liquidation or voluntary liquidation other than for the purpose of amalgamation or reconstruction; (b) a gas licensee has made any arrangement, compromise or composition with any of its creditors; (c) any circumstance specified in a gas licensee’s gas licence giving rise to the Authority’s power to revoke or suspend the licence exists; (d) a gas licensee has not complied with any direction or requirement issued by the Authority under section 19; or (e) the public interest or security of Singapore requires, the Authority may, by written notice and without payment of any compensation, revoke or suspend the gas licence for such period as the Authority thinks fit. (2) In the case of subsection (1)(c) or (d), the Authority may further require the payment by the gas licensee of a financial penalty, in addition to any sanction imposed under section 19, of an amount not exceeding 10% of the annual turnover of the gas licensee’s licensed gas business ascertained from its latest audited accounts, or an amount not exceeding $1 million, whichever is higher.