(a) The Director may revoke, suspend or modify a Certificate issued under this subchapter, after notice, public hearing, and written findings by the Director that:
(1) the beneficiary has failed to maintain compliance with the requirements of this subchapter or any regulation under this subchapter;
(2) certification received by the Director from the Lieutenant Governor or the Attorney General of the Virgin Islands indicates that the beneficiary corporation:
(A) has been dissolved; or
(B) has filed, or there has been filed against the corporation, a petition in bankruptcy which has been approved;
(3) the beneficiary has failed to file an annual report of ownership as required by this subchapter;
(4) an officer, shareholder or director acting on behalf of the corporation has been convicted of a felony connected with the operation of the beneficiary's business or industry; or
(5) an officer, shareholder or director acting on behalf of the corporation has given or offered, or caused to be given or offered a bribe, or any money, property, or value of any kind or any promise or agreement for it to a public officer, or to a person executing any of the functions of a public office, or to a person elected, appointed or designated to thereafter execute the functions of a public office, with intent to influence the person with respect to any act, decision, vote, opinion, or other proceeding in the exercise of the powers or functions which the person has or may have pertaining in any way to the tax incentive benefit program.
(b) The beneficiary shall bear the expenses of any investigation by the Director to determine the beneficiary's compliance.