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16. (1) Notwithstanding section 14, a person carrying on the business of an ATM deployer or CIT provider, as the case may be, immediately before the commencement of this Part, is taken to be registered as an ATM deployer or CIT provider, as the case may be, until the Bank has granted or refused an application for registration under section 18, provided that the person applies to the Bank for registration not later than 3 months after section 17 comes into operation.
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(2) Where a person is taken to be registered as an ATM deployer or CIT provider under subsection (1), the Bank may decide to impose on the person such conditions or requirements, or both, as the Bank considers appropriate relating to the proper and orderly regulation and oversight of ATM deployers or CIT providers, as the case may be, for the purposes of this Act.
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