PART 4SUPERVISION AND REGISTRATION
Registration of high value dealers, money service businesses and trust or company service providers
Cancellation of registration in a register maintained under regulation 2530
1
The Commissioners must cancel the registration of a money service business or trust or company service provider in a register maintained under regulation 25(1) if, at any time after registration, they are satisfied that he or any person mentioned in regulation 28(1)(b), (c) or (d) is not a fit and proper person within the meaning of regulation 28(2).
2
The Commissioners may cancel a person's registration in a register maintained by them under regulation 25 if, at any time after registration, it appears to them that they would have had grounds to refuse registration under regulation 29(1).
3
Where the Commissioners decide to cancel a person's registration they must give him notice of—
a
their decision and, subject to paragraph (4), the date from which the cancellation takes effect;
b
the reasons for their decision;
F1c
the right to a review under regulation 43A; and
d
the right to appeal under regulation F243.
4
If the Commissioners—
a
consider that the interests of the public require the cancellation of a person's registration to have immediate effect; and
b
include a statement to that effect and the reasons for it in the notice given under paragraph (3),
the cancellation takes effect when the notice is given to the person.