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A license holder who

(a) persistently fails to maintain any amount of cash or cash equivalent determined under section 23;

(b) fails to give notice of a shortfall in the amount of cash or cash equivalent required under section 23 (3); or

(c) fails to take the action that the Board requires it to take within the time specified under section 23 (4) is liable to a pecuniary penalty not exceeding the cedi equivalent of U.SS20,000 or revocation of its license whichever the Commission determines to be appropriate.