Microfinance Bill, 2012 H.B. 2, 2012 (b) if microfinancier requests the amendment; or (c) if the Registrar considers the amendment necessary to reflect the true nature of the business which the microfinancier is conducting; or (d) if for any other reason the Registrar considers the amendment necessary or desirable in the public interest. (2) Before amending a microfinancier’s registration in terms of subsection (1), otherwise than at the microfinancier’s request, the Registrar shall notify the microfinancier, in writing, of the nature of the amendment he or she proposes to make and of his or her reasons for wishing to make it, and shall give the microfinancier an adequate opportunity to make representations in the matter. (3) If the Registrar refuses to make an amendment at the microfinancier’s request, he or she shall, within ten days after reaching his decision, notify the microfinancier, in writing, of his decision and the reasons for it. 12 Cancellation of registration (1) Subject to subsection (2) and (3), the Registrar may, by notice in writing to microfinancier concerned, cancel a microfinancier’s registration if he or she has reasonable grounds for believing that⎯ (a) the registration was obtained in error or through fraud or the misrepresentation of a material fact by the microfinancier; or (b) the microfinancier has contravened any provision of this Act or any other enactment that is applicable to it, in particular⎯ (i) in the case of a moneylender, the moneylender has contravened section 6(1)(c); (ii) in the case of a microfinance institution, the institution has failed without just cause⎯ A. to comply with section 25(1) or (2); B. to implement a plan referred to in section 34, to reduce a shareholder’s shareholding to below twenty-five per centum of the institution’s shares; (c) the microfinancier has refused or failed to pay a monetary penalty imposed upon it in terms of this Act; or (d) the microfinancier has not complied with any instruction, requirement or condition imposed by the Registrar in terms of this Act; or (e) the microfinancier has failed to disclose any material change to its registration particulars in its application for the renewal of its registration; or (f) the microfinancier has failed to comply with a term or condition of its registration; or (g) the microfinancier misrepresents the facilities which it offers to the public; or (h) the microfinancier is engaging in undesirable methods of conducting business; or (i) the microfinancier has not conducted any microfinance business for one hundred and eighty consecutive days; or - 12 -