(11)The IFSCA recognises CCPs in the IFSCs and monitors them to ensure compliance with the MII Regulations and with the CCPs internal rules and procedures on an ongoing basis. The IFSCA conducts day-to-day supervision on a regular basis in accordance with Sections 12, 13 and 28 of the IFSCA Act and Regulations 65 to 70 of the MII Regulations. The IFSCA has the power to request information, to conduct inspections, to issue directions, guidance notes and circulars and to impose fines and penalties. According to Regulation 8(3)(k) of the MII Regulations, the IFSCA also has the power to set additional conditions for the recognition of CCPs. According to Section 12 of the IFSCA Act, the IFSCA has the power to impose fines and penalties on CCPs. Finally, according to Regulation 13 of the MII Regulations, the IFSCA has to power to withdraw the recognition of a CCP.