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12. Variation by Registrar at request of licensed person

(1) The Registrar may, on the application of a licensed person, vary the licence granted to that person by —
(a) adding a controlled activity to those to which the licence relates;
(b) removing a controlled activity from those to which the licence relates; or
(c) varying the description of a controlled activity to which the licence relates.
(2) The Registrar may, on the application of the licensed person, cancel the licence.
(3) The Registrar may refuse an application under this section if it appears to it that it is desirable to do so in the interests of the Abu Dhabi Global Market.
(4) If, as a result of a variation of a licence under this section, there are no longer any controlled activities for which the licensed person concerned has a licence, the Registrar must, once it is satisfied that it is no longer necessary to keep the licence in force, cancel it.
(5) The Registrar's power to vary a licence under this section extends to including in the licence as varied any provision that could be included if a fresh licence were being granted by it in response to an application under section 9.