Regulation 35 Revocation, suspension or variation of an ATOL
(1)
The CAA must revoke, suspend or vary an ATOL if the CAA is no longer satisfied that the ATOL holder is a fit person to make available flight accommodation.
(2)
The CAA may revoke, suspend or vary an ATOL if—
(a)
it is no longer satisfied with regard to any of the matters specified in regulation 32(2), or
(b)
the ATOL holder fails to comply with any term or condition of its ATOL.