INSTITUTE OF MORTGAGE BROKERS AND LENDERS (ESTABLISHMENT) ACT, 2022
Section 25: Penalties for unprofessional conduct.
(1) Where —
(a) a registered person is, adjudged by the Disciplinary Committee to be guilty of infamous conduct in any professional respect,
(b) a registered person is convicted, in Nigeria or elsewhere by any court of competent jurisdiction, or
(c) the Disciplinary Committee determines that the name of any person has been fraudulently registered, the Disciplinary Committee, may give a direction reprimanding that person or ordering the Registrar to strike the person’s name out of the relevant Part of the register.
(2) The Disciplinary Committee may defer or further defer its decision as to the giving of a direction under subsection (1) until a subsequent meeting of the Disciplinary Committee.
(3) The Disciplinary Committee may not defer its decision under subsection (2) for periods exceeding one year.
(4) Where the Disciplinary Committee gives a direction under subsection (1), the Disciplinary Committee shall cause notice of the direction to be served on the Person to whom it relates.
(5) The person to whom a direction under subsection (1) relates may, at any time within 28 days from the date of service on him, appeal against the direction to the Federal High Court.
(6) A person whose name is removed from the register under a direction of the Disciplinary Committee, may not be registered again except under a direction in that respect given by the Disciplinary Committee on the application of that person.
(7) A direction for the removal of a person’s name from the register may prohibit an application under subsection (6) by that person until the expiration of such period from the date of the direction.
Cite this section
Section 25, INSTITUTE OF MORTGAGE BROKERS AND LENDERS (ESTABLISHMENT) ACT, 2022 (2022).
https://repo.podus.ai/laws/institute-of-mortgage-brokers-and-lenders-establishment-act-2022/section/25/