Section 49
Appropriateness of action
ActIn forceProvision 49 of 71
Section 49
In determining the appropriate action to be taken by the Bank against a person under section 47 or 48, the Bank shall take into consideration the following matters:
(a)
the effectiveness of the action to be taken;
(b)
the proportionality of the action to be taken with the findings of an examination or breach committed;
(c)
deterrence of future breach of similar nature by a registered currency processor, a financial institution or other person;
and
(d)
any other matters as the Bank deems fit.