Rule 19
Procedures To Be Followed Upon Suspension Of Licence
(1) If the circumstance warrants to suspend a licence of any Certifying Authority under Section 20 of the Act, the Controller shall have to fulfill the following procedures:
(a) To ask the Certifying Authority a written explanation in relation to divergence found in the documents, details, financial and physical sources submitted at the time of issuance of a licence ;
(b) To ask the Certifying Authority a justification of cash and other financial sources owned by the Certifying Authority for the purpose of making investigation in relation to divergence found in capital structure submitted at the time of issuance of licence ;
(c) To cause the bank account, remained in the name of such a Certifying Authority or its relatives, to be
frozen until the justification of financial sources is received under Clause (b).
(2) Where an explanation is asked in writing under Clause (a) of Sub-rule (1), the Certifying Authority shall have to submit an explanation in writing to the Controller within Three days from the date on which such an explanation is so asked.
(3) The Controller may, if he/she deems a reasonable ground to suspend a licence of the Certifying Authority by the actions taken under Sub-rule (1), suspend the licence of such a Certifying Authority.
(4) If a licence of any Certifying Authority is required to be suspended under Sub-rule (3), then the duration of such a suspension shall not be more than Thirty days.
(5) The proceeding of the licence suspended shall have to finalize within a period referred to in Sub-rule (4).
(6) A notice of suspension of a licence of the Certifying Authority, made under Sub-rule (3), shall have to publish in any national-level daily newspaper.
(7) The cost, incurred in course of publication of a notice under Sub-rule (6), shall be borne by the concerned Certifying Authority.
(a) To ask the Certifying Authority a written explanation in relation to divergence found in the documents, details, financial and physical sources submitted at the time of issuance of a licence ;
(b) To ask the Certifying Authority a justification of cash and other financial sources owned by the Certifying Authority for the purpose of making investigation in relation to divergence found in capital structure submitted at the time of issuance of licence ;
(c) To cause the bank account, remained in the name of such a Certifying Authority or its relatives, to be
frozen until the justification of financial sources is received under Clause (b).
(2) Where an explanation is asked in writing under Clause (a) of Sub-rule (1), the Certifying Authority shall have to submit an explanation in writing to the Controller within Three days from the date on which such an explanation is so asked.
(3) The Controller may, if he/she deems a reasonable ground to suspend a licence of the Certifying Authority by the actions taken under Sub-rule (1), suspend the licence of such a Certifying Authority.
(4) If a licence of any Certifying Authority is required to be suspended under Sub-rule (3), then the duration of such a suspension shall not be more than Thirty days.
(5) The proceeding of the licence suspended shall have to finalize within a period referred to in Sub-rule (4).
(6) A notice of suspension of a licence of the Certifying Authority, made under Sub-rule (3), shall have to publish in any national-level daily newspaper.
(7) The cost, incurred in course of publication of a notice under Sub-rule (6), shall be borne by the concerned Certifying Authority.