Section 25Part 5 — POWERS AND DUTIES OF THE AUTHORITY
Additional powers of the Authority
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25. (1) The Authority may take any of the actions in subsection (2) if the Authority is of the opinion that a registered director, professional director or corporate director —
is carrying on business in a manner detrimental to the public interest or to the interests of the covered entities for which the registered director, professional director or corporate director is appointed;
has contravened this Law or any regulations made under this Law; Section 26 Directors Registration and Licensing Law, 2014 Page 16 Law 10 of 2014 c
has failed to comply with a condition of registration or licence;
is not carrying on business as a registered director, professional director or corporate director in a manner that is fit and proper;
is a person that is not a fit and proper person to hold a position as a registered director, professional director or corporate director; or
has failed to comply with any directions given by the Authority under section 24(1)(b).
For the purposes of subsection (1), the Authority may —
cancel or suspend the registration of a registered director;
suspend or revoke the licence of a professional director or corporate director;
impose on a registered director, professional director or corporate director any conditions or further conditions and amend or revoke those conditions;
require any action the Authority considers necessary to be taken by the registered director, professional director or corporate director; and
direct a registered director, professional director or corporate director to cease from committing any act or to pursue any course of conduct and to perform any act which in the opinion of the Authority is in the foregoing circumstances, necessary .
Notwithstanding any other provision in this Law, the Authority may cancel the registration of a registered director or revoke the licence of a professional director or a corporate director if that registered director or professional director or corporate director has ceased to act in their appointed role.
A registered director, professional director or corporate director may surrender the registration or licence of that registered director, professional director or corporate director upon application to the Authority in the prescribed form and payment to the Authority of the prescribed fee.