KRA registration enforcement requires contravention and a reasonable opportunity to make submissions before suspension or cancellation.

Contravention by a KYC Registration Agency (KRA) of applicable regulations, guidelines, circulars, or directions attracts enforcement action under the Act, including suspension or cancellation of registration. Before any such action is taken, the KRA must receive a reasonable opportunity to make submissions, ensuring that enforcement for regulatory default is preceded by procedural fairness.

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