152 No. 4 of 2021] Electronic Communications and Transactions (b) the licensee shall not be refunded the licence fees. (3) Where a licence is surrendered under subsection (1), the licensee is not entitled to a refund of any fees paid with respect to the licence. Transfer, cede or assignment of licence 32. (1) A licensee shall not cede, pledge, encumber or otherwise dispose of a licence. (2) A licensee may transfer or assign a licence with the prior approval of the National Root Certification Authority. (3) An application for approval to transfer or assign a licence shall be made to the National Root Certification Authority in a prescribed manner and form and the Authority may, within thirty days of receipt of the application— Suspension or cancellation of licence (a) approve the application on terms and conditions that it may determine; or (b) reject the application in accordance with this Act. 33. (1) Subject to this Act, the National Root Certification Authority may suspend or cancel a licence if the holder— (a) obtained the licence by fraud or submission of false information or statements; (b) contravenes this Act, any other written law relating to the licence or any terms and conditions of the licence; (c) fails to comply with a decision or guidelines issued by the National Root Certification Authority; (d) enters into receivership or liquidation or takes an action for voluntary winding up or dissolution; (e) enters into any scheme of arrangement, other than for the purpose of reconstruction or amalgamation, on terms and within a period that may previously have been approved in writing by the National Root Certification Authority; (f) is the subject of any order that is made by a court or tribunal for its compulsory winding up or dissolution; (g) has ceased to fulfil the eligibility requirements under this Act; or (h) the suspension or cancellation is in the public interest. (2) The National Root Certification Authority shall before suspending or cancelling the licence, give written notice to the holder thereof of its intention to suspend or cancel the licence and shall— (a) give the reasons for the intended suspension or cancellation; and