39 (3) If, after considering an application in terms of subsection (2) and making such enquiries as he or she may deem necessary, the Commissioner is satisfied that the applicant— (a) is a clearing agent licensed under this Act, or is a person who will make regular use of the computer system established in terms of section 68C; (b) will introduce adequate measures to— (i) prevent disclosure of the digital signature allocated to him or her by the Commissioner to any person not authorised to affix such signature; (ii) safeguard the integrity of information communicated through a computer system established in terms of section 68C, apart from any change which may occur in the normal course of such communication or during storage and display of such information; (c) will maintain the standard of reliability of his or her own computer system required in accordance with the requirements of the user agreement; the Commissioner may approve the application, subject to such reasonable conditions as he or she may impose either generally or in relation to the applicant. (4) If, at any time after granting an application in terms of subsection (3), the Commissioner is satisfied that a registered user— (a) has not complied with the requirements of his or her user agreement or with any condition or obligation imposed by the Commissioner in respect of such registration; (b) has made a false or misleading statement with respect to any material fact or omits to state any material fact which was required to be stated in the application for registration; (c) fails to make regular use of the computer system established in terms of section 68C; (d) has contravened or failed to comply with any provision of this Act; (e) has been convicted of an offence under this Act; (f) has been convicted of an offence involving dishonesty; (g) is sequestrated or liquidated; (h) no ceases to be a registered operator; the Commissioner may cancel or suspend for a specified period the registration of the registered user. (5) Before cancelling or suspending the registration of a registered user in terms of subsection (4) the Commissioner shall— (a) give notice to the registered user of the proposed cancellation or suspension; and (b) provide the reasons for the proposed cancellation or suspension; and