I've gathered all the relevant rules together.

http://www.fai.org/documents/constitution

From the FAI Statutes:

2.4.3.1. Subject to the provisions of Section 1.8. and Paragraph 4.2.2.12., FAI Active Members shall exercise Sporting Powers in their respective Countries, including the right to issue FAI Sporting Licences on behalf of FAI or to suspend or cancel any that they have issued.

2.8.1.1.1 - A violation by an individual member of an FAI member organisation shall, when referred to and verified by that organisation, be appropriately punished by admonition, reprimand, a fine, suspension or cancellation of the individual's Sporting Licence as set forth in Chapter 6 of the By-Laws.

From the FAI By-laws:

6.2 VIOLATIONS BY INDIVIDUAL MEMBERS OF FAI MEMBER ORGANISATIONS

6. 2.1. When an FAI Member organisation is notified, or otherwise becomes aware, of a possible violation of the FAI Statutes, By-Laws or Sporting Code by one or more of its individual members, the head of that organisation shall appoint one or more of its officers to investigate the allegation(s).

6. 2.3. Upon receipt of the investigation report, the head of the organisation shall notify the alleged violator if no penalty was recommended, in which case the matter shall be closed. No penalty shall be imposed if none was recommended by the investigating individual(s).

6. 2.4. Should a penalty be recommended, the head of the organisation shall convene a meeting of that organisation's board of directors or executive committee to decide whether the recommended penalty or another penalty shall be imposed. Decision shall be taken on an absolute majority vote.

6. 2.5. The head of the organisation shall notify the violator of the penalty voted. That individual may :

6. 2.5.1. - accept the penalty without comment ; or

6. 2.5.2. - accept the penalty with a formal comment ; or

6. 2.5.3. - appeal against the penalty to the appropriate FAI body.

6. 2.6. Annual reports on penalties imposed during the previous calendar year shall be forwarded to FAI by January 31 of each year.

From the FAI Sporting Code:

8. 1.6 WITHDRAWAL OF SPORTING LICENCES. A Sporting Licence may be withdrawn by the FAI or the NAC that issued it.

It would appear to me, as a layman, that the controlling document is the Statutes, then the By-laws, then the Sporting Code, in that order. There is an obvious conflict between the Sporting Code which gives the power to withdraw the Sporting License to the FAI and the NAC and the Statutes and the By-laws which give that power to the NAC only.