Electronic Transactions Act, 2008
(i) other conditions or restrictions that the Agency may consider
necessary.
(3) A licence is not transferable.
Display of licence
40. A licensee shall display its licence conspicuously on the premises of
its principal place of business.
Duties of licensed entities
41. A licensee shall ensure that each person employed or engaged by
it complies with the provisions of this Act, Regulations made under this
Act and the licence conditions.
Renewal of licence
42. An application for renewal of a licence shall be
(a) in the form, and
(b) accompanied with the fees prescribed and shall be paid in
full before the issue of a licence.
Procedure for grant or rejection of renewal of licence
43. (1) The Agency may grant or reject the application for the renewal
after considering the documents accompanying the application for
renewal and other factors considered necessary.
(2) The Agency shall provide reasons for the rejection of the
application in writing to the applicant.
Notification of adverse event
44. The Agency shall
(a) use reasonable efforts to notify any person who is likely to
be affected by the occurrence of an adverse event, or
(b) deal with the event or situation in accordance with the procedure specified in its certification practice statement
where in the opinion of the Agency an event has occurred or a situation
has arisen which may materially and adversely affect the integrity of its
computer system or the conditions subject to which a licence was granted.
Procedures to be followed by licensed person
45. A licensed person shall
(a) make use of hardware, software and procedures that are
secure from intrusion and misuse,
(b) provide such level of reliability in its services which are reasonably suited to the performance of the intended functions,
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