(1) A payment service provider shall ensure that while in operation, it maintains in the country a minimum paid-up capital unimpaired by losses including accumulated losses or other adjustments as determined by the Bank of Ghana.

(2) A payment service provider who fails to maintain the required minimum paid-up capital stipulated under subsection (1) shall

(a) submit a plan to the Bank of Ghana for approval as to how the payment service provider intends to restore the paid-up capital to the required minimum level; and

(b) pay to the Bank of Ghana, on each day that the deficiency continues, a penalty of one-half per mile, of the difference between the capital that the payment service provider should have maintained and the level of capital actually maintained by the payment service provider.

(3) The Bank of Ghana may suspend the licence of a payment service provider or take other punitive action as the Bank of Ghana considers appropriate where the deficiency is not rectified within one hundred and twenty days after it has occurred.