Administrator replacement and regulatory sanctions for failure to comply with appointment terms or actions prejudicial to investors. The Recovery Officer may recommend replacing an Administrator for failures such as non compliance with appointment terms, engagement of ineligible professionals, neglect of regulatory obligations, disobedience to Recovery Officer or Board instructions, or actions prejudicial to investors, with such recommendation recorded in writing and possibly accompanied by initiation of action under the Act. The Board may, on recommendation or suo moto, impose disciplinary measures under the Act against the Administrator or persons engaged by them, including removal from the panel, referral to the insolvency regulator for insolvency professionals, and directions restraining professional participation in the securities market; the Board shall replace an Administrator whose insolvency regulator registration is suspended or cancelled.