Section 6
of International Banking Order, 2000
ORDERIn forceProvision 6 of 35
Section 6
(1)
On receipt of an application under section 4(1), the Authority shall within a period of three months issue a decision granting or refusing the licence applied for.
(2)
A decision under subsection (1) shall be final and, where the decision is to refuse a licence –
(a)
no reason need be given for the refusal; and
(b)
no appeal shall lie against the refusal nor shall the decision be subject to proceedings by way of judicial review.
(3)
Notwithstanding subsection (2) no refusal shall prejudice the ability of an applicant to make a fresh application, provided than no such fresh application is made within three months of the date of refusal.
Categories of licences and fees.