(1)In the case of any registered dealer, where-(i)the business has been discontinued, transferred as a whole or otherwise disposed of, or(ii)the total turnover for two preceding consecutive years is less than rupees ten lakhs, or(iii)the dealer dies, and for such other good and sufficient reason, the registering authority may, either of his own motion or on the application of the dealer, in the case of death on the application by his legal representative, in the prescribed manner, cancel the registration from such date, as he considers fit having regard to the circumstances of the case.
