The Central Bank may take all measures and actions it deems appropriate for achieving its objectives and discharging its functions, and may particularly take the following actions, if it was found that a material violation to the provisions of this Regulation has occurred:
1.1. The Central Bank may require the concerned Licensee to take necessary actions to rectify the situation immediately;
1.2. Appoint a specialized expert, or a Central Bank employee, to advise or guide the concerned Licensee, or oversee some of its operations, for a period specified by the Central Bank. The concerned Licensee shall pay remunerations of such appointee if he is an expert from outside the Central Bank; or
1.3. The Central Bank may appoint a manager where the Central Bank is of the view that the management of the Licensee cannot be relied upon to take appropriate steps to rectify a situation. The main objectives of appointing a manager to take control of the management of a Licensee are:
1.3.1. to provide for the control of the affairs, business and property of a troubled Licensee so that it can be nursed back to health or else be run down in an orderly fashion; or
1.3.2. to safeguard the assets and maintain the business of the Licensee until a liquidator can be appointed
1.4. Take any other action or measure, or impose any penalties it deems appropriate.