4.1 Violation of any provision of this Regulation and any accompanying Standards may be subject to supervisory action and sanctions as deemed appropriate by the Central Bank.

4.2 Any Licensed Person not meeting the requirements of this Regulation upon its coming into force, may be subject to business restrictions until fully compliant with the requirements of Article 3(c) and must obtain written approval from the Central Bank on an agreed plan setting out clear time frames and deliverables in order to reach full compliance.