12. The president may suspend, cancel or refuse to issue or to renew a licence where the applicant or the licensee, or where the association, partnership or person on whose account or on whose behalf the licence is applied for or is held
(a) is guilty of an offence against this Act or the regulations;
(b) no longer fulfils the conditions required for obtaining a licence;
(c) made a false declaration or untrue statement of a material fact to obtain a licence.