(20)Section 406 of the FMC Act sets out the consequences of a licensed benchmark administrator contravening a condition of its licence. Where such contravention has occurred, the FMA may exercise a power under Part 6, Subpart 3, of the FMC Act, which sets out the FMA’s general powers of monitoring and enforcement of licences. Under Section 414 of the FMC Act, those powers include: censuring the licensee; requiring the licensee to submit an action plan to the FMA of what they propose to do to remedy or to avoid contravening the licensee obligation, or to avoid further contravention of the licence condition; giving the licensee a direction to remedy or to avoid contravening the licensee obligation, or to avoid further contravention of the licence condition; and suspending or cancelling the licence.