(2)A licencee whose licence or loan licence has been suspended or canceled by the State Licensing Authority or the Central Licensing Authority, as the case may be, under sub-rule (1), may within forty-five days of the receipt of a copy of the order by such authority, prefer an appeal to the State Government or the Central Government, as the case may be, and the State Government or the Central Government, shall after giving the licencee an opportunity of being heard, confirm, reverse or modify such order.
