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14. Imposition of requirements by Registrar

(1) Where a person has applied for a licence or the variation of a licence, the Registrar may impose on that person such requirements, taking effect on or after the grant or variation of the licence, as the Registrar considers appropriate.
(2) The Registrar may exercise its power under subsection (3) in relation to a licensed person if it appears to the Registrar that —
(a) that person is failing, or is likely to fail, to satisfy the conditions of licence applicable to him;
(b) that person has failed, during a period of at least 12 months, to carry on a controlled activity to which the licence relates; or
(c) it is desirable to exercise the power in the interests of the Abu Dhabi Global Market.
(3) The Registrar's power under this subsection is a power —
(a) to impose a new requirement;
(b) to vary a requirement imposed by the Registrar under this section; or
(c) to cancel such a requirement.
(4) The Registrar's power under subsection (3) is referred to in these Regulations as its own-initiative requirement power.
(5) The Registrar may, on the application of a licensed person —
(a) impose a new requirement on that person;
(b) vary a requirement imposed by the Registrar under this section on that person; or
(c) cancel such a requirement.
(6) The Registrar may refuse an application under subsection (5) if it appears to it that it is desirable to do so in the interests of the Abu Dhabi Global Market.