Cancellation of a License by the CBB
C4-1.2.23
As provided for under Article 48 (c) of the CBB Law, the CBB may itself move to cancel a license, for instance if a
licensee fails to satisfy any of its existing license conditions or protecting the legitimate interests of customers or creditors of thelicensee requires a cancellation. The CBB generally views the cancellation of a license as appropriate only in the most serious of circumstances, and generally tries to address supervisory concerns through other means beforehand. See also Chapter EN-7, regarding the cancellation or amendment of licenses, including the procedures used in such instances and thelicensee’s right to appeal the formal notice of cancellation issued by the CBB.Added: January 2022