(4)Forfeiture of security. - Without prejudice to any other action that may be taken against a licensee, the licensing authority in its discretion may by an order in writing forfeit either in full or in part the security deposit of a travel agent/tour operator/excursion agent etc. if in its opinion any of the conditions under which the licence granted has been contravened by such agent:Provided that before forfeiting the security deposit of such agent the licensing authority shall give the agent an opportunity of being heard and shall record reasons in writing for such forfeiture.
