Which penalty is applicable for a third offense involving grave violation?

The correct answer identifies the revocation of registration as the penalty applicable for a third offense involving a grave violation. In customs brokerage, grave violations demonstrate a severe lapse in compliance or ethical standards, which warrants a strong response from regulatory authorities.

When a customs broker commits multiple offenses of a grave nature, the regulatory framework is designed to maintain the integrity of customs procedures and ensure compliance with relevant laws. Revocation of registration serves as a significant deterrent to both the individual involved and the broader industry. It underscores the seriousness with which violations are treated and reinforces the commitment to uphold industry standards.

The other penalties listed, such as a fine or suspension, are typically applicable for lesser violations or first-time offenses, focusing more on correction rather than permanent removal from practice. In this context, the revocation of registration stands out as the most stringent consequence, reflecting the gravity of repeated infractions and their potential negative impact on the customs brokerage field.