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Banking Amendment Act 2012

COOK ISLANDS

BANKING AMENDMENT ACT 2012

Examined and certified by:

Clerk of the Parliament

In the name and on behalf of Her Majesty Queen Elizabeth the Second I hereby assent to this Act this 20^th day of June 2012.

Sir F. Goodwin KBE
Queen's Representative

ANALYSIS

1. Title
2. Commencement
3. Principal Act amended
4. Interpretation
5. Disclosure of protected information
6. Transitional matters
7. Updated references

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2012, No. 3

An Act to amend the Banking Act 2011.

BE IT ENACTED by the Parliament of the Cook Islands in Session assembled, and by the authority of the same, as follows:

1. Title — This Act is the Banking Amendment Act 2012.

2. Commencement — This Act comes into force on the date it is assented to by the Queen's Representative.

3. Principal Act amended — This Act amends the Banking Act 2011.

4. Interpretation — The definition of "banking business" is amended by omitting "depositing that money" and substituting "doing such business".

5. Disclosure of protected information — Section 54(5) is amended by omitting "45(1)" and substituting "53(1)".

6. Transitional matters — Section 68(1)(b) is amended by omitting "f" and substituting "section 9 of".

7. Updated references — Section 70(b) is amended by omitting "2011" and substituting "2012".

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This Act is administered by the Financial Supervisory Commission