122.5. The Régie may refuse to issue or renew a video material retail dealer’s licence, suspend it or revoke it in the following cases:(1) if he, or in the case of a company or partnership, any senior executive, director, partner or any stockholder holding more than 10% of the capital stock, has been convicted of an offence under this Act or a regulatory provision referred to in paragraph 11 of section 168 within the preceding two years, and for which he has not been pardoned;
(1.1) if he, or in the case of a company or partnership, any senior executive, director, partner or any stockholder holding more than 10% of the capital stock, has been convicted, within the two years preceding the application for a licence or the renewal of a licence, of an offence or indictable offence under the Copyright Act (Revised Statutes of Canada, 1985, chapter C-42) or the Criminal Code (Revised Statutes of Canada, 1985, chapter C-46) relating to the utilization of video material or the operation of a video material retail outlet, and for which he has not been pardoned;
(2) if he fails to pay his annual duties when due;
(3) if he does not satisfy the conditions provided for in this Act and the regulations thereunder for obtaining or renewing the licence.