• EN-7.1 EN-7.1 Legal Source

    • EN-7.1.1

      Article 48 of the CBB Law empowers the CBB to cancel or amend a license under certain circumstances. These include cases where a licensee has:

      (a) Failed to satisfy its license conditions;
      (b) Violated the terms of the CBB Law, Regulations or Rulebook;
      (c) Failed to start business within six months from the date of the license being issued;
      (d) Ceased to carry out the licensed activities permitted; or
      (e) Not acted in the legitimate interest of its customers or creditors.
      October 2010

    • EN-7.1.2

      Article 48(d) of the CBB Law requires the CBB to give the licensee concerned at least 30 calendar days in which to appeal any proposed cancellation or amendment of its license.

      October 2010