Print Options

(1) Director or key management personnel of a payment service provider shall cease to hold office, in case of

(a) bankruptcy;

(b) conviction for an offence involving fraud or dishonesty;

(c) removal from office by a competent authority; or

(d) unsound mind determined by a court of competent jurisdiction.

(2) Director or key management personnel of a payment service provider, whose licence or authorisation is revoked, shall not Without the approval of the Bank of Ghana, act in the management of any other payment service provider.

(3) Director or key management personnel of a payment service provider who contravenes subsection (1) or (2) is liable to pay to the Bank of Ghana an administrative penalty of two thousand penalty units.