1. The Central Bank may impose conditions or restrictions, or otherwise change or cancel conditions or restrictions imposed on a license issued for any Licensed Financial Institution. 2. The Central Bank may, prior to issuing the decision referred to in item (1) of this article, request the concerned Licensed Financial Institution to provide its comments on the grounds of the decision, within such period as specified. 3. The Licensed Institution shall be notified, officially, of the reasoned decision within a period not exceeding twenty (20) working days from date of its issue. The notice shall include the following: a. Content of the decision. b. Reasons for the decision. c. Effective date of the decision. d. A statement advising the concerned institution of its right to submit a grievance against the decision, by applying to the Grievances and Appeals Committee, in accordance with the provisions of this decree-law.
Interpretation and application must be checked against the official text and current version.