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(1) If a licence has expired and will not be renewed or has sooner been revoked or surrendered, the Controller shall return the suitable guarantee or the balance of the suitable guarantee, if any, as the case may be, to the certification authority concerned after all claims on it are settled or after the expiry of a period of three years after such expiry, revocation or surrender, whichever is the later.

(2) If the term of the suitable guarantee would expire in the period referred to in subregulation (1), the Controller shall require the certification authority concerned to renew or extend the term of the suitable guarantee for that period or submit a new suitable guarantee for the period.

(3) A person who contravenes the Controller's request under subregulation (2) commits an offence and shall on conviction be liable to a fine not exceeding fifty thousand ringgit or to imprisonment for a term not exceeding one year or to both.