108C.— (1) Subject to section 108D, the Bank may cancel the registration of a person under this section only if the Bank has reasonable grounds to be satisfied of any of the following:

(a) the person registered has not commenced to carry on business as a cheque cashing office within 12 months after the date on which the person was registered;

(b) the person registered has not carried on such a business within the 6 months immediately preceding the cancellation;

(c) registration was obtained by means of a false or misleading representation;

(d) any of the following persons is not a fit and proper person:

(i) the person registered;

(ii) in a case where the person registered is a body corporate or partnership, any principal officer of the body corporate or partnership (as the case may be);

(iii) any person who is a beneficial owner of the person registered;

(e) the person registered has contravened or is contravening the obligations imposed on it under this Chapter;

(f) the person registered has contravened or is contravening any of the following:

(i) a condition to which the registration is subject;

(ii) a direction of the Bank under section 108G(1);

(g) the person registered is so structured, or the business of that person is so organised, that the person is not capable of being regulated under this Chapter;

(h) in a case where the person registered is a body corporate, the body corporate is being wound up;

(i) in a case where the person registered is a partnership, the partnership is dissolved by the death or bankruptcy of a partner or because of the operation of a provision of the Partnership Act 1890 or otherwise;

(j) in a case where any person referred to in paragraph (d) has been authorised to carry on business as a cheque cashing office in another Member State, an authority of the other Member State that performs functions similar to those of the Bank under this Chapter has terminated the authority of the person to carry on business as a cheque cashing office in the other Member State;

(k) in a case where the person registered is a subsidiary of a body corporate that is authorised to carry on business as a cheque cashing office in another Member State, an authority of the other Member State that performs functions similar to those of the Bank under this Chapter has terminated the authority of the body corporate to carry on business as a cheque cashing office in the other Member State.

(2) The particulars relating to a person entered in the Register pursuant to this section shall be removed from the Register where the Bank cancels the registration of that person in accordance with this section.]