A bank has cancelled the agency appointment of TOP Investment Advisers Ltd. The bank must: (i) inform the Central Bank immediately of the cancellation. (ii) place a notice of discontinuance in a national newspaper within seven working days. (iii) write to all customers affected by the cancellation informing them of the cancellation within 28 working days.

• A. (i) only.
• B. (ii) only.
• C. (ii) and (iii) only.
• D. (i), (ii) and (iii).

Answer: (A)

When a bank changes its regulatory arrangements, the immediate duty is to notify the regulator. Informing the Central Bank promptly about the cancellation of an agency appointment ensures the regulator can update its records, monitor for any risk to customers, and maintain proper oversight of the bank’s regulated activities.

Public notices or customer communications aren’t required in this scenario. Publishing in a national newspaper or writing to all customers within set days would be additional steps not mandated by the regulation governing a cancellation of an agency appointment, so they aren’t the expected obligation here.