(1) If the Bank reasonably believes that there may be grounds for cancelling a registration under section 108C, the Bank may serve on the person registered a direction in writing prohibiting that person from carrying on business as a cheque cashing office other than in accordance with conditions specified by the Bank in the direction.
(a) setting out the reasons for giving the direction,
(b) specifying the period during which the direction remains in force, and
(c) specifying the conditions with which the person registered is required to comply.
(4) Without prejudice to the generality of subsection (3), the Bank may, by notice in writing given to the person registered concerned, extend the period during which a direction remains in force by a further period or periods not exce…