Section 26
of Registered Agents and Trustees Licensing Order, 2000
Section 26
(1)
This section applies whenever it appears to the Authority that there exists any of the following circumstances, in this section referred to as “relevant circumstances” –
(a)
a requirement or undertaking in relation to the licence under which an international business is carried on is no longer satisfied;
(b)
the licensee under such a licence has contravened a requirement of the licence or has failed to comply with a condition of the licence;
(c)
an international business advertisement issued or proposed to be issued by or on behalf of the licensee or the business is misleading or otherwise undesirable;
(d)
the licensee is, or is likely to be, unable to meet his obligations as they fall due;
(da)
the Authority’s findings pursuant to an on-site inspection conducted under section 28A(4);
(e)
the licensee has contravened any position of this Order; or
Incorporating amendments until S 43/2016
(Clean copy) NANI/muslim/fiqah _ as of 17.08.2020
25
BLUV as at 3rd August 2016
(f)
a person is appointed as or otherwise becomes a director, officer or controller of a licensee and the Authority objects to or requires further information in respect of such appointment.
(2)
Whenever this section applies the Authority may, by notice in writing, give such directions as he may consider appropriate for the purpose of protecting interested persons from being prejudiced in any manner.
(3)
The power to give directions under this section shall include the power to vary or withdraw any direction, as well as the power to issue further directions.
(4)
Any person aggrieved by a direction given under this section may apply to the
Authority to have it withdrawn or varied and the Authority shall withdraw or vary the direction in whole or in part if he considers that there are no longer any grounds which justify the direction or part of the direction concerned.
(5)
Any person who contravenes or fails to comply with any of the provisions of a direction given under this section shall be guilty of an offence and liable on conviction to a fine not exceeding two hundred thousand dollars.
Injunctions.