Section 10, The Banking Act, 2019

(1) The Central Bank may restrict, instead of revoking alicence, where it is satisfied that notwithstanding the grounds on which its power to revoke a licence is exercisable but the circumstances are not such as to justify revocation. (2) The Central Bank may, in restricting a licence under subsection (1), impose conditions- (a) requiring the licensee to refrain from pursuing a particular course of action or to restrict the scope of its business in a particular way; (b) limiting the acceptance of deposits, the granting of credit, the making of investments, or the opening of subsidiaries or branches by the licensee; (c) prohibit the licensee from soliciting for deposits; (d) prohibit the licensee from entering into any other transaction or class of transactions; (e) require the removal or replacement of any director, manager or other officer of the licensee; (f) such other conditions as it considers appropriate. (3) The duration of the restriction of a licence imposed by the Central Bank under subsection (1) shall not exceed 2 years from the date on which it was imposed. (4) Where the Central Bank restricts a licence under subsection (1), the Central Bank shall notify the licensee of the restriction in writing indicating that the licensee may, within 30 days, make representation in opposition to the restriction to the (5) Where a licensee fails to comply with the requirement undersubsection (2) or contravenes any provision under this section the Central Bank may revoke the licence or impose such other administrative penalty as may be appropriate.