(1) The Commissioners must cancel the registration of a money service business or trust or company service provider in a register maintained under regulation 25(1) if, at any time after registration, they are satisfied that he or any person mentioned in regulation 28(1)(b), (c) or (d) is not a fit and proper person within the meaning of regulation 28.
(2) The Commissioners may cancel a person’s registration in a register maintained by them under regulation 25 if, at any time after registration -
(a) it appears to them that that any condition in regulation 29(1) is met; or
(b) the person has failed to comply with any requirement of a notice given under regulation 37.
(2A) The Commissioners may cancel the registration of a money service business in a register maintained under regulation 25(1)(b) where the money service business -
(a) is providing a payment service in the United Kingdom, or is purporting to do so;
(b) is not included in the register of payment service providers mai