When can the Reserve Bank revoke the authorization given to system provider?

Section 8 of Payment and Settlement Systems Act 2007 Revocation of authorisation— (1) If a system provider,— (i) contravenes any provisions of this Act, or (ii) does not comply with the regulations, or (iii) fails to comply with the orders or directions issued by the designated authority, or (iv) operates the payment system contrary to the conditions subject to which the authorisation was issued, the Reserve Bank may, by order, revoke the authorisation given to such system provider under this Act: Provided that no order of revocation under sub-section (1) shall be made— (i) except after giving the system provider a reasonable opportunity of being heard; and (ii) without prejudice to the direction of the Reserve Bank to the system provider that the operation of the payment system shall not be carried out till the order of revocation is issued.