EN-9.1.1
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, or CBB Regulations or Volume 1 (Conventional Banks) Rulebook; or
(c) Failed to start business witin six months from the date of the license;
(d) Ceased to carry out the licensed activities permitted; or
(e) Not acted in the legitimate interest of its customers or creditors.
Amended: October 2010
Added: October 2007
Added: October 2007