First of all: WHERE IZ PAYL?!
OT: Having servers is based on you paying; therefore your allowed to do practicaly anything on your servers. Jitspoe's Anti-cheat system detects banned players through Hardware ID and/or IP. So in other words, the player would be detected. Since this server would not kick players, it would just keep giving "hits". As for ban resets; I think its completely up to jits to reset times, not the ban system. As for cheating in these servers, server admins could use #PAC, but hacks would still be detected by jitspoe's ban systeam
But the real question arises: Why would you want to create a server where banned players could play? Most of the players on the ban list really deserve the ban.