Grounds for Suspension, Rescission or Revocation

A Qualifying Certificate may be suspended, rescinded or revoked by I Maga’hågan/Maga’låhen Guåhan upon the recommendation of the Authority for the following reasons:

(a)Fraud. Fraud or misrepresentation of any material fact in the application for such Certificate; CH. 58 QUALIFYING CERTIFICATES

(b)Noncompliance with Certificate. Failure to comply with any condition or obligation set out in the qualifying certificate, the Qualifying Certificate law and rules thereof, or any laws and rules of the government of Guam having a direct impact on the beneficiary’s activities. The Qualifying Certificate beneficiary may correct such noncompliance within twelve

(12)months from the date it was notified in writing as to the nature of the noncompliance and reasons for such noncompliance. All benefits shall be suspended during this noncompliance period. Failure to correct such noncompliance within the period given shall result in revocation of the Qualifying Certificate;

(c)Bankruptcy. The filing by or against the Beneficiary of a petition for bankruptcy;

(d)Dissolution or death. A finding by the Attorney General that a corporate Beneficiary has been dissolved, that a partnership Beneficiary has been dissolved, or that an individual Beneficiary has died;

(e)Noncompliance with laws and rules. Failure to comply with any provision of this Chapter or with the applicable rules and regulations of the Authority.