§ 89 — Regulatory action can continue despite licence expiry, etc.

89.—(1) Subject to section 90, regulatory action started under section 88 against a licensee or class licensee may continue, and the Authority may exercise any powers under subsection (2), in relation to a former licensee or former class licensee, despite either of the following events:(a)

the date of expiry, cancellation or surrender of the licensee’s licence;[Act 29 of 2024 wef 30/10/2024]

(b)

the date the class licence stops applying.

(2) The Authority may, if satisfied of any ground mentioned in section 88(1), do (without compensation) any one or more of the following:(a)

censure the former licensee or former class licensee in writing;

(b)

direct the former licensee or former class licensee to do, or to refrain from doing, such things as are specified in a direction to rectify any contravention or non‑compliance mentioned in section 88(1)(a) by the former licensee or former class licensee when the licence or class licence (as the case may be) was in force;

(c)

direct the former licensee or former class licensee to pay, within a period specified in a direction, a financial penalty of any amount that the Authority thinks fit, but not exceeding the maximum specified in section 88(2)(e).

(3) Section 88(3), (4) and (5) applies to regulatory action under this section as it applies to any regulatory action under that section.

—(1) Subject to section 90, regulatory action started under section 88 against a licensee or class licensee may continue, and the Authority may exercise any powers under subsection (2), in relation to a former licensee or former class licensee, despite either of the following events:(a)

the date of expiry, cancellation or surrender of the licensee’s licence;[Act 29 of 2024 wef 30/10/2024]

(b)

the date the class licence stops applying.

(2) The Authority may, if satisfied of any ground mentioned in section 88(1), do (without compensation) any one or more of the following:(a)

censure the former licensee or former class licensee in writing;

(b)

direct the former licensee or former class licensee to do, or to refrain from doing, such things as are specified in a direction to rectify any contravention or non‑compliance mentioned in section 88(1)(a) by the former licensee or former class licensee when the licence or class licence (as the case may be) was in force;

(c)

direct the former licensee or former class licensee to pay, within a period specified in a direction, a financial penalty of any amount that the Authority thinks fit, but not exceeding the maximum specified in section 88(2)(e).

(3) Section 88(3), (4) and (5) applies to regulatory action under this section as it applies to any regulatory action under that section.