Queensland Consolidated Acts Queensland Consolidated Acts(1) A licensee's licence is cancelled on the happening of any of the following events--
(a) the licensee is convicted of a serious offence;
(b) if the licensee is an individual, the licensee is affected by bankruptcy action;
(c) if the licensee is a corporation, the licensee has been wound up or struck off under the Corporations Act.
(2) The licensee must return the licence to the chief executive within 14 days after the happening of an event mentioned in subsection (1), unless the licensee has a reasonable excuse.
Maximum penalty for subsection (2)--100 penalty units.