7. Standard conditions
Without limiting the generality of sections 11, 12 and 39 of the Act, the Central Bank may grant a licence subject to the following standard conditions —
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(a) the licence is personal to the licensee and is not transferable or assignable;
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(b) the licensee shall only engage in the business permitted by the licence and from the premises specified in the licence;
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(c) the licensee shall, as soon as is reasonably practicable, give written notice to the Central Bank of —
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(i) a proposed alteration to; or
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(ii) the occurrence of an event which the licensee knows affects or may affect in a material respect,
information supplied by the licensee to the Central Bank in the course of the application for that licence.