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4.14 Renewal of License [Article 9.1 (r) of the Regulations]

N 35/2018 STA
  1. 4.14.1Application for the renewal of a license must be submitted to the Licensing Division of the Banking Supervision Department at least two (2) months prior to the date of expiry of the license; and
  2. 4.14.2In case, the Licensed Person exhibits major non-compliance with applicable Laws, Rules, Regulations, Notices and the Standards, then the Central Bank reserves the right to refuse the renewal of the license or to renew it for a period shorter than one (1) year.