The chief executive may, by complying with this division, wholly or partially suspend the authorisation under a commercial activity agreement or cancel a commercial activity agreement if—
(a) the chief executive reasonably believes—(i) the agreement was entered into on the basis of information that was false, misleading or incomplete in a material particular; or(ii) the other party to the agreement has contravened a condition of the agreement; or(iii) the other party to the agreement is not, or is no longer, a suitable person to be a party to the agreement under section 164 ; or
(b) the other party to the agreement is convicted of an offence against the Act and the chief executive considers the activities of the other party that led to the conviction are relevant to the other party’s ability to conduct activities under the agreement in a competent and ethical way.