Section 8, The Payment Systems Act, 2009

(1) The Central Bank may give a direction to a participantin a designated system if the Central Bank considers that the participant has failed to comply with a standard. (2) The direction– (a) may require the participant to take or to refrain from taking a specified action, as the Central Bank considers appropriate having regard to the failure; (b) shall be consistent with any applicable standards; (c) may indicate the time by which, or the period during which, it is to be complied with; (d) shall be given by notice in writing to the participant; (e) shall take effect on the day on which it is given or on such later date as may be specified and shall continue in force until it is revoked. (3) The Central Bank may revoke a direction by notice in writing given to the participant where it considers that the direction is no longer necessary or appropriate.