B. Cessation of Business
Effective from Feb 07 2023 - Feb 06 2023
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| 1. | VARA may revoke or suspend a Licence [in relation to all or certain VA Activities], if a VASP does not— |
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| a. | carry out all or some of the VA Activities authorised under the Licence for an extended period; and | |||
| b. | notify VARA of its plan to reinstate or carry out relevant VA Activities. |
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| 2. | In the event that a VASP intends to cease to carry out any VA Activities authorised under the Licence, it shall notify VARA and request a revocation of either— |
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| a. | in the event that all VA Activities authorised under a Licence are to be ceased, the Licence; or | |||
| b. | in the event that only some of the VA Activities authorised under a Licence are to be ceased, the VA Activities to be ceased. |
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| 3. | VASPs shall notify VARA as soon as reasonably practicable and in any event not later than thirty [30] Working Days before such intended cessation. |
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