Section 25(2) in Punjab Apartment and Property Regulation Act, 1995
(2)A certificate or registration is liable to be cancelled, if the promoter or estate agent, as the case may be,-(a)surrenders the certificate of registration as he does not wish to continue carrying on the business;(b)has applied to be adjudicated or has been adjudicated an insolvent or is an undischarged insolvent;(c)has been adjudicated to be of unsound mind by a competent court;(d)has been convicted of an offence under this Act or under any law relating to construction or use of premises and a period of five years has not elapsed after that conviction;(e)has contravened any of the terms or conditions of the certificate of registration or any of the provisions of this Act or the rules made thereunder.
