Section 21

contravenes or fails to comply with or fails to secure the compliance by its employees, agents or contractors with any of the conditions of the licence to operate the Mass Rapid Transit System or with the provisions of this Act or any regulations made thereunder; or

in the opinion of the Corporation, fails or is likely to fail to provide and maintain an adequate, safe and satisfactory service,the Corporation may, by notice in writing and without any compensation, do either or both of the following:

suspend or cancel the licence;

forfeit the whole or any part of any security deposited with the Corporation by the licensee or by his bank pursuant to a bank guarantee.[16E