Notification obligation requires bankers to an issue to inform regulator of central bank disciplinary action; prohibition treated as certificate suspension. Bankers to an issue must promptly notify the Board if the Reserve Bank takes disciplinary action against them in relation to issue payment work; if that action prohibits the banker from carrying on those activities, the banker's certificate is deemed suspended or cancelled as appropriate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Notification obligation requires bankers to an issue to inform regulator of central bank disciplinary action; prohibition treated as certificate suspension.
Bankers to an issue must promptly notify the Board if the Reserve Bank takes disciplinary action against them in relation to issue payment work; if that action prohibits the banker from carrying on those activities, the banker's certificate is deemed suspended or cancelled as appropriate.
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