AI Summary of 22. Bank may amend registration
The Bank has the authority to amend a registration concerning an ATM deployer or cash-in-transit (CIT) provider by varying, replacing, or revoking conditions, or by adding new conditions as deemed necessary for the regulation of the holder's business. If the Bank intends to amend a registration, it must provide the holder with notice detailing the proposed amendments and inform them of their right to make written representations within 21 days.
After receiving any representations, the Bank shall decide whether to proceed with the amendment. The Bank must notify the holder of its decision, including reasons, as soon as practicable. The amendment takes effect either immediately upon notification or on a specified later date, regardless of any appeals against the decision by the holder.
22. Bank may amend registration
(1) The Bank may, from time to time, amend a registration by varying, replacing or revoking any condition or, subject to section 19, in the case of a CIT provider, by adding any further condition if the Bank considers that the variation, replacement, revocation or addition is necessary for the proper and orderly regulation of the business of the holder concerned as an ATM deployer or CIT provider, as the case may be, under this Act.
(2) If the Bank proposes to amend a registration under this section, the Bank shall give to the holder a notice informing the holder of the Bank's intention to amend the registration.
(3) The notice shall -
(a) specify the proposed amendment, and
(b) inform the holder that the holder may, within 21 days after giving the notice, make representations in writing to the Bank showing why the Bank should not make that amendment.
(4) Not later than 21 days after a notice is given to the holder under subsection (2), the holder may make representations in writing to the Bank showing why the Bank should not amend the registration.