Licensees must note that the CBB considers the breach of the gearing ratio to be a very serious matter. Consequently, the CBB may (at its discretion) subject a licensee which breaches its gearing ratio to a formal licensing reappraisal. Such reappraisal may be effected either through the CBB's own inspection function or through the use of Reporting Accountants, as appropriate. Following such reappraisal, the CBB will provide a written notification to the licensee concerned outlining the CBB's conclusions with regard to the continued licensing.