Removal of officer or employee

The Central Bank may, by order, remove a person from office as an officer or a director of an operator or payment service provider if the Central Bank is of the opinion that the person is not suitable to hold that office– (a) because the person is not a fit and proper person; or (b) because by action, omission or negligence, the person has contravened or contributed to the contravention of– (i) a provision of this Act, or of its regulations or guidelines made under this Act; (ii) an order or directive issued under this Act; (iii) a condition of the licence of the operator or payment service provider; or 41 (iv) an undertaking given by the operator or payment service provider to the