Im working on Oracle Database 11g:
If user A gives the following privileges to user B on a table \'emp\' using:
Grant select on emp to userB WITH GRANT OPTION;
As long as user B has been granted to "select on emp ... WITH GRANT OPTION" he may forward this privilege to somebody else. If the privilege is revoked he cannot do this anymore. (neither select table emp nor grant select to sombody else)
Take a simpler example: GRANT CREATE TABLE to USER_A
. As long as USER_A has this privilege he can create a new tables. If the privilege is revoked he cannot do this anymore. In this case the table he created before will not be dropped, of course. The table stays as it is.
The same applies for SELECT
privileges.