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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 August 2013 - onwards
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9C. Revocation of authorisations granted under section 9A.

(1) The Bank may revoke an authorisation granted under section 9A(2) -

(a) if the holder of the authorisation so requests,

(b) if the holder of the authorisation -

(i) has not commenced to carry on banking business pursuant to the authorisation within 12 months of the date on which the authorisation was granted,

(ii) has ceased to carry on banking business pursuant to the authorisation and has not carried it on during a period of more than 6 months immediately following the cesser,

(iii) has obtained the authorisation through false statements or any other irregular means,

(iv) becomes unable to meet its obligations to its creditors or suspends payments lawfully due by it or can no longer be relied upon to fulfil its obligations towards its creditors, and in particular no longer provides security for the assets entrusted to it,

(v) is convicted on indictment of an offence under any provision of this Act or an offence involving fraud, dishonesty or breach of trust, or

(vi) being a compan

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