Section 16: Notice of revocation or suspension of a license

(1) Where the Bank proposes to revoke or suspend a licence, it shall before exercising such power, give notice of its intention to the Credit Bureau concerned, and give the Credit Bureau an opportunity to make representations in respect thereof.
(2)
If following such representations, under section (I) the Bank determines that the Licence should be revoked or suspended, the Bank shall give notice in writing of that decision to the Credit Bureau and shall specify in
the notice, the defect, omission or breach which occasioned the revocation or suspension (as the case may be), and make such consequential directives in the notice as the Bank may deem fit to make in the circumstance.
17. The Bank may, in lieu of revoking or suspending a licence, require