Revocation or suspension of licence

(1) The Central Bank may suspend or revoke a licence granted under section 9 or 10 if27 (a) the licensee breaches a condition of the licence or fails to comply with this Act or its (b) the licensee fails to commence operation of the system within the prescribed period of time; (c) the licensee has ceased operation of the system for the prescribed period of time; (d) the licensee obtained the licence through the provision of incorrect information to the Central Bank or any other irregular means; (e) the licensee no longer meets the applicable criteria for the grant of a licence under sections 9 or 10; (f) the operation of the system for which the licence was granted endangers the stability of the payment or financial system in Belize; (g) the company that owns or operates the system enters into insolvency proceedings; (h) in the opinion of the Central Bank, the operation of the system is no longer in the public interest or the system no longer represents the interest of the participants; or (i) the suspension or revocation of a licence is permitted for the commission of an infringement under Part VII. 28