{\rtf1\adeflang1025\ansi\ansicpg1252\uc1\adeff40\deff0\stshfdbch0\stshfloch0\stshfhich0\stshfbi0\deflang1033\deflangfe1033\themelang1033\themelangfe0\themelangcs0{\fonttbl{\f0\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\f1\fbidi \fswiss\fcharset0\fprq2{\*\panose 020b0604020202020204}Arial;}
{\f1\fbidi \fswiss\fcharset0\fprq2{\*\panose 020b0604020202020204}Arial;}{\f40\fbidi \froman\fcharset0\fprq2{\*\panose 02040604050505020304}NewCenturySchlbk{\*\falt Century Schoolbook};}
{\f41\fbidi \froman\fcharset0\fprq2{\*\panose 02040604050505020304}Century Schoolbook;}{\flomajor\f31500\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}
{\fdbmajor\f31501\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\fhimajor\f31502\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0302020204030204}Calibri Light;}
{\fbimajor\f31503\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\flominor\f31504\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}
{\fdbminor\f31505\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\fhiminor\f31506\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0502020204030204}Calibri;}
{\fbiminor\f31507\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman;}{\f299\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\f300\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}
{\f302\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\f303\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\f304\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\f305\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}
{\f306\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\f307\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\f309\fbidi \fswiss\fcharset238\fprq2 Arial CE;}{\f310\fbidi \fswiss\fcharset204\fprq2 Arial Cyr;}
{\f312\fbidi \fswiss\fcharset161\fprq2 Arial Greek;}{\f313\fbidi \fswiss\fcharset162\fprq2 Arial Tur;}{\f314\fbidi \fswiss\fcharset177\fprq2 Arial (Hebrew);}{\f315\fbidi \fswiss\fcharset178\fprq2 Arial (Arabic);}
{\f316\fbidi \fswiss\fcharset186\fprq2 Arial Baltic;}{\f317\fbidi \fswiss\fcharset163\fprq2 Arial (Vietnamese);}{\f309\fbidi \fswiss\fcharset238\fprq2 Arial CE;}{\f310\fbidi \fswiss\fcharset204\fprq2 Arial Cyr;}
{\f312\fbidi \fswiss\fcharset161\fprq2 Arial Greek;}{\f313\fbidi \fswiss\fcharset162\fprq2 Arial Tur;}{\f314\fbidi \fswiss\fcharset177\fprq2 Arial (Hebrew);}{\f315\fbidi \fswiss\fcharset178\fprq2 Arial (Arabic);}
{\f316\fbidi \fswiss\fcharset186\fprq2 Arial Baltic;}{\f317\fbidi \fswiss\fcharset163\fprq2 Arial (Vietnamese);}{\f709\fbidi \froman\fcharset238\fprq2 Century Schoolbook CE;}{\f710\fbidi \froman\fcharset204\fprq2 Century Schoolbook Cyr;}
{\f712\fbidi \froman\fcharset161\fprq2 Century Schoolbook Greek;}{\f713\fbidi \froman\fcharset162\fprq2 Century Schoolbook Tur;}{\f716\fbidi \froman\fcharset186\fprq2 Century Schoolbook Baltic;}
{\flomajor\f31508\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\flomajor\f31509\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\flomajor\f31511\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}
{\flomajor\f31512\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\flomajor\f31513\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\flomajor\f31514\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}
{\flomajor\f31515\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\flomajor\f31516\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fdbmajor\f31518\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}
{\fdbmajor\f31519\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\fdbmajor\f31521\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fdbmajor\f31522\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}
{\fdbmajor\f31523\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\fdbmajor\f31524\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fdbmajor\f31525\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}
{\fdbmajor\f31526\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fhimajor\f31528\fbidi \fswiss\fcharset238\fprq2 Calibri Light CE;}{\fhimajor\f31529\fbidi \fswiss\fcharset204\fprq2 Calibri Light Cyr;}
{\fhimajor\f31531\fbidi \fswiss\fcharset161\fprq2 Calibri Light Greek;}{\fhimajor\f31532\fbidi \fswiss\fcharset162\fprq2 Calibri Light Tur;}{\fhimajor\f31535\fbidi \fswiss\fcharset186\fprq2 Calibri Light Baltic;}
{\fhimajor\f31536\fbidi \fswiss\fcharset163\fprq2 Calibri Light (Vietnamese);}{\fbimajor\f31538\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\fbimajor\f31539\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}
{\fbimajor\f31541\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fbimajor\f31542\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\fbimajor\f31543\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}
{\fbimajor\f31544\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fbimajor\f31545\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\fbimajor\f31546\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}
{\flominor\f31548\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\flominor\f31549\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\flominor\f31551\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}
{\flominor\f31552\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\flominor\f31553\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\flominor\f31554\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}
{\flominor\f31555\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\flominor\f31556\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fdbminor\f31558\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}
{\fdbminor\f31559\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}{\fdbminor\f31561\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fdbminor\f31562\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}
{\fdbminor\f31563\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}{\fdbminor\f31564\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fdbminor\f31565\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}
{\fdbminor\f31566\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}{\fhiminor\f31568\fbidi \fswiss\fcharset238\fprq2 Calibri CE;}{\fhiminor\f31569\fbidi \fswiss\fcharset204\fprq2 Calibri Cyr;}
{\fhiminor\f31571\fbidi \fswiss\fcharset161\fprq2 Calibri Greek;}{\fhiminor\f31572\fbidi \fswiss\fcharset162\fprq2 Calibri Tur;}{\fhiminor\f31575\fbidi \fswiss\fcharset186\fprq2 Calibri Baltic;}
{\fhiminor\f31576\fbidi \fswiss\fcharset163\fprq2 Calibri (Vietnamese);}{\fbiminor\f31578\fbidi \froman\fcharset238\fprq2 Times New Roman CE;}{\fbiminor\f31579\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr;}
{\fbiminor\f31581\fbidi \froman\fcharset161\fprq2 Times New Roman Greek;}{\fbiminor\f31582\fbidi \froman\fcharset162\fprq2 Times New Roman Tur;}{\fbiminor\f31583\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew);}
{\fbiminor\f31584\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic);}{\fbiminor\f31585\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic;}{\fbiminor\f31586\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese);}}
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\red128\green0\blue128;\red128\green0\blue0;\red128\green128\blue0;\red128\green128\blue128;\red192\green192\blue192;\red255\green255\blue255;}{\*\defchp \fs22 }{\*\defpap \ql \li0\ri0\sa160\sl259\slmult1
\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 }\noqfpromote {\stylesheet{\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
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\b\fs32\lang3081\langfe1033\kerning32\loch\f31502\hich\af31502\dbch\af31501\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext0 \slink133 \sqformat \spriority9 heading 1;}{\*\cs10 \additive \ssemihidden Default Paragraph Font;}{\*
\ts11\tsrowd\trftsWidthB3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tblind0\tblindtype3\tsvertalt\tsbrdrt\tsbrdrl\tsbrdrb\tsbrdrr\tsbrdrdgl\tsbrdrdgr\tsbrdrh\tsbrdrv \ql \li0\ri0\sa160\sl259\slmult1
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\additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 AlternativeEnd;}{\*\cs19 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 AlternativeStart;}{\s20\qc \li0\ri0\sb240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 
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\ab\af40\afs24\alang1025 \ltrch\fcs0 \b\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext21 Amendments;}{\s22\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 
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\ai\af0 \ltrch\fcs0 \i \sbasedon10 Bill Position;}{\s26\qr \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs20\alang1025 \ltrch\fcs0 \f40\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext26 
Bill Signature;}{\s27\qc \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af40\afs26\alang1025 \ltrch\fcs0 \i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext27 Brought In By;}{
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\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Chapter No;}{\s30\qc \li0\ri0\sb240\keepn\pagebb\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs30\alang1025 \ltrch\fcs0 
\b\caps\f40\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon28 \snext30 Chapter Rest;}{\s31\qj \li720\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
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\tx576\wrapdefault\nooverflow\faroman\rin0\lin1843\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\cf11\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext35 Client Note;}{\s36\qj \li0\ri0\widctlpar\brdrt
\brdrs\brdrw15\brsp20 \wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs18\alang1025 \ltrch\fcs0 \b\caps\f40\fs18\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext36 Cognate;}{
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\ltrch\fcs0 \cf3 \sbasedon10 Date1;}{\s39\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext39 Deed;}{\s40\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon56 \snext40 Deed Graphic;}
{\*\cs41 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Deed No;}{\s42\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext42 Definition Paragraph;}{\s43\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon42 \snext43 Definition Sub Paragraph;}{\s44\qj \fi-731\li3611\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3611\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext44 Definition Sub Sub Paragraph;}{\*\cs45 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf11 \sbasedon10 Definition Term;}{
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\s47\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext47 Division;}{\*\cs48 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Division No;}{\s49\qj \li-1701\ri0\widctlpar\tqr\tx8789\wrapdefault\nooverflow\faroman\rin0\lin-1701\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext49 \slink50 footer;}{\*\cs50 \additive \rtlch\fcs1 \af40\afs26 \ltrch\fcs0 \f40\fs26\lang3081\langfe0\langnp3081 \sbasedon10 \slink49 \slocked \ssemihidden Footer Char;}{\*\cs51 
\additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf12 \sbasedon10 Foreign;}{\s52\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 
\b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext52 Form;}{\s53\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon56 \snext53 Form Graphic;}{\*\cs54 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Form No;}{
\s55\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext55 Formula;}{
\s56\qc \li0\ri0\sb240\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext56 Graphic;}{
\s57\qj \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext57 Graphic Description;}{
\s58\qj \li0\ri0\sb480\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext58 Head Note;}{
\s59\qj \li0\ri0\widctlpar\tqc\tx4153\tqr\tx8306\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext59 \slink60 header;}{\*\cs60 
\additive \rtlch\fcs1 \af40\afs26 \ltrch\fcs0 \f40\fs26\lang3081\langfe0\langnp3081 \sbasedon10 \slink59 \slocked \ssemihidden Header Char;}{\s61\qj \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ai\af40\afs26\alang1025 \ltrch\fcs0 \i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext61 Image;}{\s62\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext62 Image Description;}{\*\cs63 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Image No;}{\*\cs64 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf0 \sbasedon10 Image Type;}{\*
\cs65 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf9 \sbasedon10 Item No;}{\s66\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 
\b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext66 Long Title;}{\s67\qj \li0\ri0\sa240\widctlpar
\tx144\tx288\tx432\tx576\tx720\tx864\tx1008\tx1152\tx1296\tx1440\tx1584\tx1728\tx1872\tx2016\tx2160\tx2304\tx2448\tx2592\tx2736\tx2880\tx3024\tx3168\tx3312\tx3456\tx3600\tx3744\tx3888\tx4032\tx4176\tx4320\tx4464\tx4608\tx4752\tx4896\tx5040
\tx5184\tx5328\tx5472\tx5616\tx5760\tx5904\tx6048\tx6192\tx6336\tx6480\tx6624\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext67 
Oath;}{\s68\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext68 Order;}{\*\cs69 \additive \rtlch\fcs1 \ab\af0 
\ltrch\fcs0 \b\caps \sbasedon10 Order No;}{\s70\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs20\alang1025 \ltrch\fcs0 \f40\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext70 
Originating;}{\s71\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext71 Out Def;}{
\s72\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext72 Out Def Para;}{
\s73\qj \li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext73 Out Def Sub Para;}{
\s74\qj \li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext74 Out Def Sub Sub Para;}{
\s75\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext75 Out Para;}{
\s76\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext76 Out Section;}{
\s77\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext77 Out Sub Para;}{
\s78\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext78 Out Sub Section;}{
\s79\qj \li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext79 Out Sub Sub Para;}{\*\cs80 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \sbasedon10 page number;}{\s81\qj \fi-720\li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext81 Paragraph;}{\*\cs82 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Paragraph No;}{\s83\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 
\b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext83 Part First;}{\*\cs84 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Part No;}{
\s85\qc \li0\ri0\sb240\keepn\pagebb\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon83 \snext85 Part Rest;}{
\s86\qc \li0\ri0\sb480\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon83 \snext86 Part Schedule;}{
\s87\qj \fi-1083\li1797\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1797\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext87 Penalty;}{
\s88\qj \fi-576\li2376\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2376\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon87 \snext88 Penalty Para;}{
\s89\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext89 Preamble Text;}{
\s90\qj \fi-1987\li1987\ri0\sa120\widctlpar\tx576\wrapdefault\nooverflow\faroman\rin0\lin1987\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\cf12\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext90 Private Note;}
{\s91\qj \li0\ri0\sa240\widctlpar\tx720\tx1166\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext91 Qualifying Text;}{\*\cs92 
\additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 RefAct;}{\*\cs93 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 RefCase;}{\*\cs94 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf11 \sbasedon10 RefDefTerm;}{\*\cs95 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf13 \sbasedon10 RefExternal;}{\*\cs96 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf13 \sbasedon10 RefInternal;}{\*\cs97 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf13 \sbasedon10 RefStandard;}{\*\cs98 \additive \rtlch\fcs1 
\ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 RefStatutory;}{\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 
\b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext99 Schedule;}{\*\cs100 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Schedule No;}{
\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext101 Schedule SectRef;}{\*\cs102 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Section No;}{\*\cs103 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\cf13 \sbasedon10 Short Title;}{\s104\qc \li0\ri0\sa480\sl-360\slmult0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af40\afs30\alang1025 \ltrch\fcs0 \b\caps\f40\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext104 Short Title Heading;}{\s105\qc \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext105 Short Title No;}{\s106\qc \li0\ri0\sb480\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext106 State;}{\*\cs107 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf12 \sbasedon10 StatOffice;}{\*\cs108 \additive \rtlch\fcs1 \ab\af0 
\ltrch\fcs0 \b\cf9 \sbasedon10 Sub Clause No;}{\s109\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext109 Sub Division;}{\s110\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext110 Sub Paragraph;}{\*\cs111 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Sub Paragraph No;}{\s112\qj \fi720\li0\ri0\sa240\widctlpar\tx1170\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 
\ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext112 Sub Section;}{\*\cs113 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf9 \sbasedon10 Sub Section No;}{
\s114\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext114 Sub Sub Paragraph;}{\*\cs115 
\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \caps\cf9 \sbasedon10 Sub Sub Paragraph No;}{\*\cs116 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf9 \sbasedon10 Subdivision No;}{\*\cs117 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \super \sbasedon10 Super;}{\*\cs118 
\additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b \sbasedon10 Table Bold;}{\*\cs119 \additive \rtlch\fcs1 \ab\ai\af0 \ltrch\fcs0 \b\i \sbasedon10 Table Bold Italic;}{\s120\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext120 Table Content;}{\*\cs121 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i \sbasedon10 Table Italic;}{\*\cs122 \additive \rtlch\fcs1 \af0 
\ltrch\fcs0 \cf9 \sbasedon10 Table Item No;}{\s123\qc \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext123 
Table Title;}{\s124\qj \li0\ri0\sb240\keepn\widctlpar\tqr\tx7087\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext124 \sautoupd \ssemihidden toc 1;}{\s125\qj \fi-720\li2534\ri-45\sb120\keepn\widctlpar\tx720\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-45\lin2534\itap0 \rtlch\fcs1 \ab\ai\af40\afs24\alang1025 \ltrch\fcs0 
\b\i\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext125 \sautoupd \ssemihidden toc 2;}{\s126\qj \fi-720\li720\ri-43\sb120\widctlpar\tx1080\tx1440\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-43\lin720\itap0 \rtlch\fcs1 
\af40\afs24\alang1025 \ltrch\fcs0 \f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext126 \sautoupd \ssemihidden toc 3;}{\s127\qj \fi-720\li1559\ri-45\sb120\widctlpar\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-45\lin1559\itap0 
\rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext127 \sautoupd \ssemihidden toc 4;}{\s128\qj \fi-720\li1967\ri0\sb120\widctlpar
\tqr\tx7087\wrapdefault\nooverflow\faroman\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext128 \sautoupd \ssemihidden toc 5;}{
\s129\qj \li907\ri-29\widctlpar\tqr\tx6660\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-29\lin907\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext129 \sautoupd \ssemihidden 
toc 6;}{\s130\qj \fi-720\li1627\ri-29\widctlpar\tx1987\tx3067\tqr\tx7087\wrapdefault\nooverflow\faroman\rin-29\lin1627\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext130 \sautoupd \ssemihidden toc 7;}{\s131\qj \fi-720\li1080\ri0\sb120\widctlpar\tx1080\tx1440\tx1800\tx2160\tx7087\wrapdefault\nooverflow\faroman\rin0\lin1080\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 
\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext131 \sautoupd \ssemihidden toc 8;}{\s132\qj \li2080\ri0\widctlpar\tqr\tx7087\wrapdefault\nooverflow\faroman\rin0\lin2080\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 
\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext132 \sautoupd \ssemihidden toc 9;}{\*\cs133 \additive \rtlch\fcs1 \ab\af31503\afs32 \ltrch\fcs0 
\b\fs32\lang3081\langfe0\kerning32\loch\f31502\hich\af31502\dbch\af31501\langnp3081 \sbasedon10 \slink1 \slocked \spriority9 Heading 1 Char;}{\s134\qc \li0\ri0\sb480\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext134 \sqformat TOC Heading;}{\*\cs135 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf15 \sbasedon10 zActNumber;}{\*\cs136 \additive 
\rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf15 \sbasedon10 zActYear;}{\s137\qr \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext137 zAssentDate;}{\s138\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext138 
zBillNumber;}{\s139\qj \li0\ri0\widctlpar\pvpara\posy1440\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af40\afs20\alang1025 \ltrch\fcs0 \i\f40\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext139 zSecondReading;}{\s140\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext140 AdminDep;}{
\s141\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext141 CertifyLaw Text;}{
\s142\qc \li0\ri0\sb120\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af40\afs26\alang1025 \ltrch\fcs0 \i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext142 Conditions;}{
\s143\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext143 ConfirmGov;}{
\s144\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext144 Execution Text;}{
\s145\qc \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext145 Explain Heading;}{
\s146\qj \li0\ri0\sa240\widctlpar\tx720\tx1166\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon91 \snext146 Explain Note;}{
\s147\qc \li0\ri0\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ai\af40\afs26\alang1025 \ltrch\fcs0 \i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext147 Explain Note Note;}{
\s148\qj \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext148 GazetteDate;}{
\s149\qc \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext149 GenConditions;}{
\s150\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext150 GovernorSig Text;}{
\s151\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext151 MinisterSig Text;}{
\s152\qj \li0\ri0\sa240\keep\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext152 Opening Words;}{
\s153\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext153 Seal;}{
\s154\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext154 SR Date;}{
\s155\qr \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext155 SR Position;}{
\s156\qj \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext156 SR Printed;}{
\s157\qr \li0\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext157 SR Signature;}{\*\cs158 \additive 
\rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i \sbasedon10 Tariff;}{\s159\qc \li0\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 
\b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext159 Tariff Group;}{\s160\qj \li0\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 
\b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext160 Tariff Heading;}{\*\cs161 \additive \rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\caps\cf9 \sbasedon10 Tariff No;}{
\s162\qc \li0\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext162 TariffList Heading;}{
\s163\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext163 TariffList Text;}{
\s164\qj \fi-1080\li2520\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2520\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext164 Amd Charge;}{
\s165\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext165 Amd Division;}{
\s166\qj \li720\ri0\sb480\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext166 Amd Head Note;}{\*\cs167 
\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf5 \sbasedon10 Amd Number;}{\*\cs168 \additive \rtlch\fcs1 \ab\af0 \ltrch\fcs0 \b\cf5 \sbasedon10 Amd Number Bold;}{\*\cs169 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \caps\cf5 \sbasedon10 Amd Number Cap;}{
\s170\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext170 Amd Part;}{
\s171\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext171 Amd Penalty;}{
\s172\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext172 Amd Schedule;}{
\s173\qj \li3240\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3240\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext173 Amd1 Charge;}{
\s174\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon47 \snext174 Amd1 Division;}{
\s175\qj \li1440\ri0\sb480\sa240\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon166 \snext175 Amd1 Head Note;}{
\s176\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon170 \snext176 Amd1 Part;}{
\s177\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext177 Amd1 Penalty;}{
\s178\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon172 \snext178 Amd1 Schedule;}{
\s179\qj \li720\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext179 Indent 0.5;}{
\s180\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon179 \snext180 Indent 1.0;}{
\s181\qj \li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon180 \snext181 Indent 1.5;}{
\s182\qj \fi720\li720\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext182 Indent 1st 0.5;}{
\s183\qj \fi720\li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon182 \snext183 Indent 1st 1.0;}{
\s184\qj \fi720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon183 \snext184 Indent 1st 1.5;}{
\s185\qj \fi720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon184 \snext185 Indent 1st 2.0;}{
\s186\qj \fi720\li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon185 \snext186 Indent 1st 2.5;}{
\s187\qj \li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon181 \snext187 Indent 2.0;}{
\s188\qj \li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon187 \snext188 Indent 2.5;}{
\s189\qj \fi-720\li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext189 Indent Hng 0.5;}{
\s190\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext190 Indent Hng 1.0;}{
\s191\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon190 \snext191 Indent Hng 1.5;}{
\s192\qj \fi-720\li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon191 \snext192 Indent Hng 2.0;}{
\s193\qj \fi-720\li4320\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin4320\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon192 \snext193 Indent Hng 2.5;}{
\s194\qj \fi-720\li720\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \f40\fs24\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext194 TOC Entry;}{\*\cs195 \additive 
\rtlch\fcs1 \ab\af0\afs30 \ltrch\fcs0 \b\caps\fs30\cf15 \sbasedon10 Year;}{\s196\qj \li0\ri0\widctlpar\pvpg\posy15593\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs22\alang1025 \ltrch\fcs0 
\f40\fs22\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext196 zDocumentStamp;}{\s197\qj \li0\ri0\widctlpar\pvpg\posy720\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext197 zDraftNotice;}{
\s198\qj \li0\ri0\widctlpar\pvpg\posxc\posy14912\dxfrtext187\dfrmtxtx187\dfrmtxty0\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs20\alang1025 \ltrch\fcs0 \f40\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 
\sbasedon0 \snext198 zGovPrintImp;}{\*\cs199 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \caps \sbasedon10 ShortTitleHeadEnd;}{\s200\qj \li0\ri0\widctlpar\pvpg\posy284\dxfrtext181\dfrmtxtx181\dfrmtxty181\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 
\rtlch\fcs1 \af40\afs20\alang1025 \ltrch\fcs0 \f40\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon197 \snext200 zConsolidate;}{\s201\qj \fi-1080\li2520\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2520\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon87 \snext201 Para Penalty;}{\s202\qj \fi-576\li3096\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3096\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon87 \snext202 Para Penalty Para;}{\s203\qj \fi-720\li2160\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2160\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext203 Para Definition Text;}{\s204\qj \fi-720\li2880\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2880\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext204 Sub Para Def Text;}{\s205\qj \fi-720\li3600\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext205 Sub Sub Para Def Text;}{\*\cs206 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \sub \sbasedon10 Sub;}{
\s207\qj \li720\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext207 CounterSigText;}{
\s208\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs30\alang1025 \ltrch\fcs0 \b\caps\f40\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon28 \snext208 Amd Chapter;}{
\s209\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs30\alang1025 \ltrch\fcs0 \b\caps\f40\fs30\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon208 \snext209 Amd1 Chapter;}{
\s210\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon109 \snext210 Amd SubDivision;}{
\s211\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 \b\i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon210 \snext211 Amd1 SubDivision;}{
\s212\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon39 \snext212 Amd Deed;}{
\s213\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon212 \snext213 Amd1 Deed;}{
\s214\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon52 \snext214 Amd Form;}{
\s215\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon214 \snext215 Amd1 Form;}{
\s216\qj \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ai\af40\afs26\alang1025 \ltrch\fcs0 \i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon61 \snext216 Amd Image;}{
\s217\qj \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ai\af40\afs26\alang1025 \ltrch\fcs0 \i\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon216 \snext217 Amd1 Image;}{
\s218\qj \li1440\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon31 \snext218 Para Charge;}{
\s219\qc \li720\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon170 \snext219 Amd Part Schedule;}{
\s220\qc \li1440\ri0\keepn\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin1440\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon176 \snext220 Amd1 Part Schedule;}{
\s221\qc \li0\ri0\sa60\widctlpar\wrapdefault\nooverflow\faroman\outlinelevel1\rin0\lin0\itap0 \rtlch\fcs1 \af1\afs24\alang1025 \ltrch\fcs0 \f1\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext221 \slink222 \sqformat Subtitle;}{\*
\cs222 \additive \rtlch\fcs1 \af31503\afs24 \ltrch\fcs0 \fs24\lang3081\langfe0\loch\f31502\hich\af31502\dbch\af31501\langnp3081 \sbasedon10 \slink221 \slocked \spriority11 Subtitle Char;}{
\s223\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af1\afs20\alang1025 \ltrch\fcs0 \caps\f1\fs20\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext223 zEndorsement;}{
\s224\qj \fi720\li4320\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin4320\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon186 \snext224 Indent 1st 3.0;}{
\s225\qj \li4320\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin4320\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon188 \snext225 Indent 3.0;}{
\s226\qj \fi-720\li5040\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin5040\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon193 \snext226 Indent Hng 3.0;}{
\s227\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af41\afs20\alang1025 \ltrch\fcs0 \f41\fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 \sbasedon0 \snext227 Graphic Text;}{\*\cs228 \additive 
\rtlch\fcs1 \af0 \ltrch\fcs0 \cf11 \sbasedon10 Client Note No;}{\s229\qj \li1843\ri0\sa120\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1843\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 \ltrch\fcs0 
\b\i\f40\fs26\cf11\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 \sbasedon0 \snext229 Client Note Text;}{\s230\qj \li1987\ri0\sa120\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1987\itap0 \rtlch\fcs1 \ab\ai\af40\afs26\alang1025 
\ltrch\fcs0 \b\i\f40\fs26\cf12\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext230 Private Note Text;}{\*\cs231 \additive \rtlch\fcs1 \af0 \ltrch\fcs0 \cf12 \sbasedon10 Private Note No;}{\s232\qj \fi-691\li691\ri0\sa240\widctlpar
\tx1440\wrapdefault\nooverflow\faroman\rin0\lin691\itap0 \rtlch\fcs1 \af40\afs22\alang1025 \ltrch\fcs0 \f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext232 Note Content;}{
\s233\qj \li691\ri0\sa240\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin691\itap0 \rtlch\fcs1 \af40\afs22\alang1025 \ltrch\fcs0 \f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext233 Note Out Text;}{
\s234\qj \li691\ri0\sa240\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin691\itap0 \rtlch\fcs1 \af40\afs22\alang1025 \ltrch\fcs0 \f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext234 Note Text;}{
\s235\qj \fi-720\li3600\ri0\sa120\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin3600\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext235 Sub Sub Sub Paragraph;}{\*\cs236 
\additive \rtlch\fcs1 \af0 \ltrch\fcs0 \sbasedon10 Sub Sub Sub Paragraph No;}{\s237\qj \li0\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 
\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 \sbasedon0 \snext237 Proviso;}}{\*\revtbl {Unknown;}}{\*\rsidtbl \rsid1514422\rsid1649247\rsid3870932\rsid4411461\rsid10701175}{\mmathPr\mmathFont34\mbrkBin0\mbrkBinSub0\msmallFrac0\mdispDef1\mlMargin0\mrMargin0
\mdefJc1\mwrapIndent1440\mintLim0\mnaryLim1}{\info{\author InQuirion Pty. Ltd.}{\operator Melisa Thompson}{\creatim\yr2005\mo1\dy28\hr15\min25}{\revtim\yr2018\mo5\dy25\hr9\min22}{\version3}{\edmins1}{\nofpages67}{\nofwords18424}{\nofchars105017}
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\facingp\widowctrl\ftnbj\aenddoc\trackmoves0\trackformatting1\donotembedsysfont0\relyonvml0\donotembedlingdata1\grfdocevents0\validatexml0\showplaceholdtext0\ignoremixedcontent0\saveinvalidxml0\showxmlerrors0
\noxlattoyen\expshrtn\noultrlspc\dntblnsbdb\nospaceforul\hyphcaps0\formshade\horzdoc\dghspace120\dgvspace120\dghorigin1701\dgvorigin1984\dghshow1\dgvshow0\jexpand\viewkind1\viewscale100\pgbrdrhead\pgbrdrfoot\bdrrlswsix\nolnhtadjtbl\oldas\rsidroot1649247 
\fet0{\*\wgrffmtfilter 2450}\ilfomacatclnup0{\*\ftnsep \ltrpar \pard\plain \ltrpar\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid1514422 \chftnsep 
\par }}{\*\ftnsepc \ltrpar \pard\plain \ltrpar\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\insrsid1514422 \chftnsepc 
\par }}{\*\aftnsep \ltrpar \pard\plain \ltrpar\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\insrsid1514422 \chftnsep 
\par }}{\*\aftnsepc \ltrpar \pard\plain \ltrpar\qj \li0\ri0\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\insrsid1514422 \chftnsepc 
\par }}\ltrpar \sectd \ltrsect\binfsxn2\binsxn2\linex0\headery1000\footery1000\endnhere\titlepg\sectdefaultcl\sftnbj {\*\pnseclvl1\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl3
\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}
{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \ltrpar
\s105\qc \li0\ri0\sb5000\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 
\cs135\b0\fs24\cf0\insrsid4411461 No. 2}{\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 \b0\fs24\cf0\insrsid4411461  of }{\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 \cs136\b0\fs24\cf0\insrsid4411461 2000}{\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 
\b0\fs24\cf0\insrsid4411461 .
\par }\pard\plain \ltrpar\s104\qc \li0\ri0\sa240\sl-360\slmult0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs30\alang1025 \ltrch\fcs0 \b\caps\f40\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ai\af40\afs24 
\ltrch\fcs0 \i\caps0\fs24\cf0\insrsid4411461 Banks and Financial Institutions Act }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs199\caps0\fs24\cf0\insrsid4411461 2000}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid4411461 .
\par }\pard\plain \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Certified on:    /   /20   .
\par \sect }\sectd \ltrsect\binfsxn2\binsxn2\pgnrestart\linex0\headery1000\footery1000\endnhere\titlepg\sectdefaultcl\sftnbj {\footerl \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 
\af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 \endash  }{\field{\*\fldinst {
\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 PAGE \\* roman}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 iv}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 
\ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  \endash }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\par }}{\footerr \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461  }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 \endash  }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 PAGE \\* roman}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 iii}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  \endash }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\par }}{\footerf \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
\par }}\pard\plain \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\par INDEPENDENT STATE OF PAPUA NEW GUINEA.
\par }\pard\plain \ltrpar\s37\qc \li0\ri0\sb480\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 

\par }\pard\plain \ltrpar\s105\qc \li0\ri0\sb240\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 
\cs135\b0\fs24\cf0\insrsid4411461 No. 2}{\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 \b0\fs24\cf0\insrsid4411461  of }{\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 \cs136\b0\fs24\cf0\insrsid4411461 2000}{\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 
\b0\fs24\cf0\insrsid4411461 .
\par }\pard\plain \ltrpar\s104\qc \li0\ri0\sb500\sa240\sl-360\slmult0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs30\alang1025 \ltrch\fcs0 \b\caps\f40\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 
\ai\af40\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid4411461 Banks and Financial Institutions Act }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs199\caps0\fs24\cf0\insrsid4411461 2000}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid4411461 .

\par }\pard\plain \ltrpar\s134\qc \li567\ri0\sb480\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin567\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \f0\fs24\insrsid4411461 ARRANGEMENT OF SECTIONS.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART I \endash  PRELIMINARY.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 1.\tab Compliance with constitutional requirements.
\par 2.\tab Purpose of this Act.
\par 3.\tab Interpretation.
\par }\pard\plain \ltrpar\s127\qj \fi-720\li1559\ri0\widctlpar\wrapdefault\faauto\rin0\lin1559\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93administrator\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93Authorized Institution\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93associate\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93bank\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93banking business\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93Board\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93body corporate\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93Central Bank\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93chief executive\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93deposit\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93depositor\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93deposit advertisement\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93director\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93external administrator\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93former Act\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93Governor\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93group\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93holding company\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93indirect controller\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93insolvent\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93licence\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93licensed financial institution\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93manager\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93net assets\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93officer\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93officer of the Central Bank\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93prudential matters\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93prudential standard\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93related company\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93relative\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93shareholder controller\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93stake\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93statutory manager\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93subsidiary\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93this Act\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 4.\tab Application of Companies Act 1997.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART II \endash  FUNCTIONS AND POWERS OF THE CENTRAL BANK.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 5.\tab Functions of the Central Bank under this Act.
\par 6.\tab Powers of the Central Bank under this Act.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART III \endash  PROVISIONS RELATING TO THE CARRYING ON OF BANKING BUSINESS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 7.\tab Only authorized or exempt persons to carry on banking business.
\par 8.\tab Exemptions.
\par 9.\tab Certain activities confined to banks.
\par 10.\tab Licence to carry on banking business.
\par 11.\tab Refusal of application.
\par 12.\tab Minimum capital.
\par 13.\tab Directors, chief executives and managers of Authorized Institutions to be fit and proper.
\par 14.\tab Conditions on licence.
\par 15.\tab Revocation of licence.
\par 16.\tab Notice of conditions and revocation.
\par 17.\tab Conditions and revocation in cases of urgency.
\par 18.\tab Surrender of authorization.
\par 19.\tab Publication of names of Authorized Institutions.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART IV \endash  OWNERSHIP AND CONTROL OF AUTHORIZED INSTITUTIONS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 20.\tab Objections to shareholder controllers or indirect controllers by the Central Bank.
\par 21.\tab Objections by the Minister in national interest.
\par 22.\tab Notice of objection.
\par 23.\tab Notification of intention to increase the stake.
\par 24.\tab Objections to existing shareholder controllers and indirect controllers.
\par 25.\tab Contraventions by shareholder controller and indirect controller.
\par 26.\tab Remedial orders.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART V \endash  PRUDENTIAL SUPERVISION OF AUTHORIZED INSTITUTIONS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 27.\tab Central Bank may make prudential standards for Authorized Institutions.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART VI \endash  INFORMATION AND INVESTIGATION.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 28.\tab Central Bank to be supplied with certain documents.
\par 29.\tab Power to obtain information and require production of documents.
\par 30.\tab Right of entry to obtain information and documents.
\par 31.\tab Investigations on behalf of the Central Bank.
\par 32.\tab Investigations of suspected contraventions of this Act.
\par 33.\tab Obstruction of investigations.
\par 34.\tab False and misleading information.
\par 35.\tab Duty to give information.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART VII \endash  POWER TO TAKE CONTROL OF AN AUTHORIZED INSTITUTION.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 36.\tab Consequences of inability or failure of Authorized Institution to meet obligations.
\par 37.\tab Statutory managers - termination of control.
\par 38.\tab Powers and functions of statutory manager.
\par 39.\tab Liabilities and duties of statutory manager.
\par 40.\tab Administrator in control - additional duties.
\par 41.\tab Termination of appointment of administrator.
\par 42.\tab Effect on directors of statutory manager taking control of the business of an Authorized Institution.
\par 43.\tab Effect on external administrator of statutory manager taking control of the business of an Authorized Institution.
\par 44.\tab Effect on legal proceedings of statutory manager taking control of the business of an Authorized Institution.
\par 45.\tab Statutory manager being in control not grounds for denial of obligations.
\par 46.\tab Costs of statutory management.
\par 47.\tab Central Bank to give notice of statutory management.
\par 48.\tab Powers of Central Bank to apply for authorized institution to be wound up.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART VIII \endash  SURVEILLANCE OF DEPOSIT ADVERTISING.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 49.\tab Invitations to make deposits.
\par 50.\tab Advertisements.
\par 51.\tab False or misleading inducement to make a deposit.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART IX \endash  SECRECY.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 52.\tab Secrecy.
\par }\pard\plain \ltrpar\s127\qj \fi-720\li1559\ri0\widctlpar\wrapdefault\faauto\rin0\lin1559\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93officer\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93produce\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93protected document\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93protected information\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART X \endash  MISCELLANEOUS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 53.\tab Power to make regulations.
\par 54.\tab Offences and penalties.
\par 55.\tab Power to amend Schedules, etc.,.
\par 56.\tab Prosecutions and other actions.
\par 57.\tab Injunctions and other orders.
\par 58.\tab Liability of defaulting officers.
\par 59.\tab Protection from liability and indemnity.
\par 60.\tab Fees payable by Authorized Institutions.
\par 61.\tab Location of places of business.
\par 62.\tab False statements as to status.
\par 63.\tab Restriction on the use of the word \'93bank\'94.
\par 64.\tab Restriction on use of certain words and expressions.
\par 65.\tab Restriction on establishment or maintenance of representative offices of overseas banks.
\par 66.\tab Restructuring of Authorized Institutions.
\par 67.\tab Unclaimed moneys.
\par }\pard\plain \ltrpar\s127\qj \fi-720\li1559\ri0\widctlpar\wrapdefault\faauto\rin0\lin1559\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93authorized officer\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par  }{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \cs45\b0\caps0\insrsid4411461 \'93unclaimed money\'94}{\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 \b0\caps0\insrsid4411461  
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 68.\tab Powers about money of depositors who have died.
\par 69.\tab Non-business days.
\par 70.\tab Annual report.
\par 71.\tab Depositor priority.
\par 72.\tab Central Bank to furnish information to the Minister.
\par 73.\tab Date of coming into operation of prudential standard.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\insrsid4411461 PART XI \endash  REPEAL, AMENDMENT, SAVING AND TRANSITIONAL PROVISIONS.
\par }\pard\plain \ltrpar\s124\qj \fi-720\li720\ri0\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs24\alang1025 \ltrch\fcs0 \b\caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40 \ltrch\fcs0 
\b0\caps0\insrsid4411461 74.\tab Repeal and amendment of Acts.
\par 75.\tab Saving of regulations.
\par 76.\tab Saving of licences, etc.,.
\par 77.\tab References to former Act, etc.,.
\par 78.\tab Actions not to abate.
\par 79.\tab Difficulties with saving or transitional provisions.
\par }\pard\plain \ltrpar\s128\qj \fi-720\li1967\ri0\sb60\widctlpar\wrapdefault\faauto\rin0\lin1967\itap0 \rtlch\fcs1 \af40\afs24\alang1025 \ltrch\fcs0 \caps\f40\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40 \ltrch\fcs0 
\b\caps0\insrsid4411461 SCHEDULE 1 \endash  Application Requirements for Authorization.
\par SCHEDULE 2 \endash  Criteria for authorization.
\par SCHEDULE 3 \endash  Minimum capital.
\par SCHEDULE 4 \endash  Provision of information.
\par SCHEDULE 5 \endash  Penalties for offences against this Act.
\par SCHEDULE 6 \endash  Prescribed fees.
\par \sect }\sectd \ltrsect\binfsxn2\binsxn2\sbkodd\pgnrestart\linex0\headery1000\footery1000\endnhere\titlepg\sectdefaultcl\sftnbj {\headerl \ltrpar \ltrrow\trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft-720\trkeep\trftsWidth1\tblind-720\tblindtype3 
\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx720\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640\pard\plain \ltrpar\s59\qj \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  IF }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  = OR ( }
{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  COMPARE }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Section No" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 
\ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3.}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  = Preamble* \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 
\ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 0}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 ,}{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\insrsid4411461  COMPARE }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Section No" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3.}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  <= 0 \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 0}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 ) \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 0}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  = 1 "" "s. "\\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 s. }}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Section No" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 
\ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3.}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \cell }\pard \ltrpar\s59\qc \li0\ri0\widctlpar\intbl
\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\fs24\insrsid4411461 Banks and Financial Institutions 2000}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \cell }\pard\plain \ltrpar
\ql \li0\ri0\sa160\sl259\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft-720\trkeep\trftsWidth1\tblind-720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil 
\cellx720\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640\row }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \fs24\insrsid4411461 
\par }}{\headerr \ltrpar \ltrrow\trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft720\trkeep\trftsWidth1\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil 
\cellx8640\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx10080\pard\plain \ltrpar\s59\qc \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 
\rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\fs24\insrsid4411461 Banks and Financial Institutions 2000}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \cell }\pard \ltrpar\s59\qr \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 {\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  IF }{\field{\*\fldinst {\rtlch\fcs1 
\ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  = OR ( }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  COMPARE }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Section No" 
\\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3.}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  = Preamble* \\
* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 0}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 ,}
{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  COMPARE }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Section No" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 
\ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3.}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  <= 0 \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 
\ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 0}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 ) \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 0}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  = 1 "" "s. "\\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 s. }}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Section No" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 
\ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3.}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \cell }\pard\plain \ltrpar\ql \li0\ri0\sa160\sl259\slmult1
\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft720\trkeep\trftsWidth1\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx10080\row }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
\par }}{\footerl \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461  }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 \endash  }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 PAGE}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 4}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  \endash }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\par }}{\footerr \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461  }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 \endash  }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 PAGE}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 3}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  \endash }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\par }}{\footerf \ltrpar \pard\plain \ltrpar\s49\qc \li0\ri0\widctlpar\tqr\tx8789\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
\par }}\pard\plain \ltrpar\s106\qc \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\insrsid4411461 INDEPENDENT STATE OF PAPUA NEW GUINEA.
\par }\pard\plain \ltrpar\s37\qc \li0\ri0\sb480\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
\par }\pard\plain \ltrpar\s105\qc \li0\ri0\sb480\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 
\b0\fs24\cf0\insrsid4411461 AN ACT
\par entitled
\par }\pard\plain \ltrpar\s104\qc \li0\ri0\sb480\sa240\sl-360\slmult0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs30\alang1025 \ltrch\fcs0 \b\caps\f40\fs30\cf15\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 
\ai\af40\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid4411461 Banks and Financial Institutions Act }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs199\caps0\fs24\cf0\insrsid4411461 2000}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\caps0\fs24\cf0\insrsid4411461 ,

\par }\pard\plain \ltrpar\s66\qj \fi-720\li720\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab0\af40\afs24 \ltrch\fcs0 
\b0\fs24\insrsid4411461 Being an Act to make new provision for the licensing and regulation of banks and licensed financial institutions, and to repeal various Acts and to make consequential amendments to various Acts, and for related purposes.
\par }\pard\plain \ltrpar\s24\qj \fi-720\li720\ri0\keep\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 MADE by the National Parliament to come into operation in accordance with a notice in the National Gazette by the Head of State, acting with, and in accordance with the advice of the Minister.
\par }\pard\plain \ltrpar\s83\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART I. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 PRELIMINARY.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 1.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Compliance with constitutional requirements.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 This Act, to the extent that it regulates or restricts a right or freedom referred to in Subdivision III.3.C(qualified rights) of the Constitution, namely:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the right to freedom from arbitrary search and entry conferred by Section 44 of the Constitution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the right to freedom of employment conferred by Section 48 of the Constitution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the right to privacy conferred by Section 49 of the Constitution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the right to freedom of information conferred by Section 51 of the Constitution,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
is a law that is made for the purpose of giving effect to the public interest in public welfare.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 For the purposes of Section 41 of the Organic Law on Provincial Governments and Local-level Governments it is declared that this law relat
es to a matter of national interest.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 2.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Purpose of this Act.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The purpose of this Act is:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to make provision for promoting the general stability of the financial system in Papua New Guinea; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to make provision for regulating Authorized Institutions; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to protect the interests of depositors of Authorized Institutions; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to regulate the use of certain names and descriptions; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to confer upon the Central Bank certain functions and powers with respect to regulating Authorized Institutions; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 f}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 for related purposes.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 3.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Interpretation.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In this Act, unless the contrary intention appears:
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93administrator\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a person appointed by the Central Bank to take control of an Authorized Institution\rquote s business;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93Authorized Institution\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means either:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a licensed financial institution;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93associate\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 , in relation to a person entitled to exercise or control the exercise of voting power in relation to, or holding shares in, a body corporate means:

\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a relative of the person; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any body corporate of which that person is a director; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any person who is an employee or partner of that person; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where that person is a company:
\par }\pard\plain \ltrpar\s43\qj \fi-720\li2880\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 any director of that company; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 any subsidiary of that company; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 any director or employee of any such subsidiary; or
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
where that person has with any other person an agreement or arrangement with respect to the acquisition, holding or disposal of shares or other interests in that body corporate or under which they undertake to act together in exercising their voting power
 in relation to it, that other person;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93bank\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a body corporate licensed as a bank under this Act;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93banking business\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the business of taking money on deposit and using that money:
\par }\pard\plain \ltrpar\s43\qj \fi-720\li2880\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 to lend to others; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 to finance any other activity 
of the business, wholly or to a material extent, out of the capital or interest on money received by way of deposit; or
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
such other financial activities prescribed by the regulations for the purposes of this definition;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93Board\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the Board of the Central Bank;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93body corporate\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  includes a statutory corporation;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93Central Bank\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the Bank of Papua New Guinea;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93chief executive\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in relation to an Authorized Institution, a person who, either alone or jointly with one or more other persons, is responsible under the immediate authority of the directors for the conduct of the business of the Authorized Institution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 in relation to an Authorized Institution whose principal place of business is in a country or terr
itory outside Papua New Guinea, also includes a person who, either alone or jointly with one or more other persons, is responsible for the conduct of its business in Papua New Guinea;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93deposit\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a sum of money paid on terms:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 under which it will be
 repaid, with or without interest or a premium, and either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it and which terms are not referable to the provision of property or ser
vices or the giving of security; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 as prescribed by the regulations for the purposes of this definition,
\par }\pard\plain \ltrpar\s71\qj \li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 and references in this Act to money deposited and to the making of a deposit shall be construed accordingly, but a deposit does not include:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a 
sum paid by the Central Bank or an Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a transaction exempted under Section 8;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93depositor\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a person entitled to repayment of a deposit, whether made by him or not;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93deposit advertisement\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means any advertisement containing:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
an invitation to make a deposit; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 information which is intended or might reasonably be presumed to be intended to lead directly or indirectly to the making of a deposit;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93director\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 :
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
with respect to companies registered in Papua New Guinea, has the same meaning as in Section 107(1)(a) of the Companies Act 1997; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 with respect to a body corporate incorporated outside Papua New Guinea, means any person, including a member of a boar
d, who occupies a position appearing to the Central Bank to be analogous to that of a director of a company under Section 107(1)(a) of the Companies Act 1997;  and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 with respect to any other body corporate, means a person who occupies a position appearing to the Central Bank to be analogous to that of a director of a company under Section 107(1)(a) Companies Act 1997;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93external administrator\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means any of the following:\endash 
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
a liquidator or interim liquidator;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a receiver, manager, or receiver and manager (other than a statutory manager); or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any other form of administrator or person having an analogous role under the laws of any place,
\par }\pard\plain \ltrpar\s71\qj \li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 and expressions used in this definition have the same meanings as they have in the Companies Act 1997;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93former Act\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the Banks and Financial Institutions Act (Chapter 137) repealed by this Act;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93Governor\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the Governor of the Central Bank;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93group\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 , in relation to a body corporate, means that body corporate, any other body corporate which is its holding compa
ny or subsidiary and any other body corporate which is a subsidiary of that holding company;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93holding company\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  has the meaning given to it by Subsection (2);
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93indirect controller\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means either:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
a person or persons in accordance with whose directions or
 instructions the directors of the Authorized Institution or any holding company of the Authorized Institution or any shareholder controller of the Authorized Institution are accustomed to act or are under an obligation, whether formal or informal, to act
; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a person or persons declared by the Central Bank to be an indirect controller for the purposes of this Act;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93insolvent\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 , in relation to a body corporate, means that the body corporate is not able to pay all its debts as and when they become due and
 payable and a body corporate will be deemed insolvent where it is unable to pay any sum due and payable with respect to a deposit;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93licence\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a licence granted under Section 10 to conduct a banking business;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93licensed financial institution\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a corporation licensed as a financial institution under this Act;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93manager\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
 means, in relation to an Authorized Institution, a person (other than a chief executive) who, under the immediate authority of a chief executive or director of the Authorized Institution:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
exercises managerial functions; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 is responsible for maintaining the accounts or other records of the Authorized Institution;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93net assets\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means paid-up capital and reserves;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93officer\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 , includes a director or employee of the body or entity;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93officer of the Central Bank\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the Governor, Deputy Governor or an employee of the Central Bank;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93prudential matters\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
, in relation to an Authorized Institution means matters relating to the conduct by that institution and any group of which it is a member of any of their affairs:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 in such a way as:
\par }\pard\plain \ltrpar\s43\qj \fi-720\li2880\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 to keep itself in a sound financial position; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 not to cause or promote instability in the Papua New Guinea financial system; and
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
such that they are conducted with integrity, prudence and professional skill; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 which ensure compliance with the relevant obligations placed on the institution by or under this Act; 
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93prudential standard\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  has the meaning given to it under Section 27;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93related company\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  has the meaning given to it by Subsection (2);
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93relative\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 , in relation to a person, means:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the person\rquote 
s spouse; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 another person who, although not legally married to the person, lives with the person on a bona fide domestic basis as the husband or wife of the person; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a parent or remoter lineal ancestor of the person; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a son, daughter or remoter lineal descendant of the person; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a brother or sister of the person;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93shareholder controller\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means a person who, either alone or with any associate or associates has a stake in:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 an Authorized Institution; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a holding company of an Authorized Institution,
\par }\pard\plain \ltrpar\s71\qj \li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 of more than 15%;
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93stake\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the aggregate of the voting power that a person controls in a body corporate at general meeting;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93statutory manager\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means either the Central Bank or an administrator;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93subsidiary\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  has the meaning given by Subsection (2);
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93this Act\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  includes the regulations and prudential standards made under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
For the purposes of this Act, the question whether a body corporate is subsidiary or holding company or a related company of another body corporate is to be determined
 in the same way as that question is determined for the purposes of the Companies Act 1997.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 4.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Application of Companies Act 1997.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The requirements of this Act in relation to a body corporate are in addition to and not in derogation of or substitution for t
he requirements of the Companies Act 1997, but in the case of a conflict between a provision of this act and a provision of the Companies Act 1997 the former provision prevails.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART II. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 FUNCTIONS AND POWERS OF THE CENTRAL BANK.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 5.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Functions of the Central Bank under this Act.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The principal function of the Central Bank under this Act shall be to promote the general stability and effective working of the financial system in Papua New Guinea.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall have the powers conferred on it by
 this Act and the duty generally to supervise the institutions authorized by it in the exercise of those powers.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The functions of the Central Bank under this Act include:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the protection of the interests of depositors and potential depositors; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the collection and analysis of information in respect of prudential matters relating to Authorized Institutions; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the encouragement and promotion of the carrying out by Authorized Institutions of sound practices in relation to prudential matters; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the evaluation of the effectiveness of carrying out of those practices.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Without limiting the generality of this section, the Central Bank shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
be responsible for supervising compliance with the provisions of this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 promote, encourage and enforce proper standards of conduct and sound and prudent business practices amongst Authorized Institutions including by the issue of prudential standards; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 suppress or aid in suppressing illegal, dishonourable or improper practices of Authorized Institutions. 
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 6.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Powers of the Central Bank under this Act.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The Central Bank has all the powers of a natural person to do, in Papua New Guinea or elsewhere, all things necessary or convenient to be done for or in connection with the achievement of its functions under this Act.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART III. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 PROVISIONS RELATING TO THE CARRYING ON OF BANKING BUSINESS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 7.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Only authorized or exempt persons to carry on banking business.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person is guilty of an offence where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the person carries on banking business; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the person is not a body corporate; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 there is no order in force under Section 8 determining that this Subsection does not apply to the person.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A body corporate is guilty of an offence where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the body corporate carries on any banking business; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the body corporate is not the Central Bank; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the body corporate is not an Authorized Institution; and 
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 there is no order in force under Section 8 determining that this Subsection does not apply to the body corporate.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 8.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Exemptions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, by order published in the National Gazette, determine that:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Section 7 does not apply to the acceptance of deposits by specified persons; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 specified transactions do not constitute a deposit for the purposes of whether a deposit is taken in the course of conducting banking business,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
during the period while the order continues in force.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Before any exemption under Subsection (1) shall be granted the Central Bank shall be satisfied that appropriate safeguards exist to protect depositors who:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
deposit money with persons specified in any order pursuant to Subsection (1)(a); or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 enter into transactions specified in any order pursuant to Subsection (1)(b).
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An order made under this section:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 may be expressed to apply to:

\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a particular person or to the persons included in a class of persons; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a particular class of transactions; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
may specify the period during which the order shall remain in force; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 may be made subject to such conditions as are specified in the order.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Without limiting the generality of this section, the conditions imposed under this section may relate to any one or more of the following:\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the amount of the deposit;

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the total liability of the person accepting the deposit to his depositors or any other creditors;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the circumstances in which, or the purpose for which, the deposit is made;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the identity of the person by whom the deposit is made;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the number of or the amount involved in transactions of any particular description carried out by the person accepting the deposit or the frequency with which he carries out transactions of any particular description.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person is guilty of an offence where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the person does, or fails to do, an act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the act results in a contravention of a condition to which an order under this section is subject.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, by order published in the National Gazette, vary or revoke an order under this section.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 9.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Certain activities confined to banks.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Only a bank may carry on the business of:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
accepting money on deposit that is repayable on demand by cheque drawn by the depositor on the borrower; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 paying and collecting cheques drawn by or paid in by depositors; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 such other financial activities prescribed by regulations.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 10.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Licence to carry on banking business.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A body corporate which desires authority to carry on banking business shall apply in writing to the Central Bank for a licence as either a bank or a licensed financial institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The application under Subsection (1) shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 be in a form prescribed
 by the Central Bank; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 include the matters specified in Schedule 1; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 include such other information or documents as the Central Bank may require; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 be accompanied by the application fee (which is not refundable) specified in Schedule 6.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where an application has been made, the Central Bank may grant the body corporate a licence to carry on banking business as a bank or a licensed financial institution where it is satisfied with regard to the criteria set out in Schedule 2.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 At any 
time after receiving an application and before determining it, the Central Bank may by written notice require the applicant or any person who is or who is to be a shareholder controller, indirect controller, director, chief executive or manager of the app
licant to provide additional information or documents.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A licence shall be in writing, and the Central Bank shall give the body corporate written notice of the granting of the licence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the Central Bank grants a licence under this section the Central Bank:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
shall cause notice of the licence to be published in the National Gazette, and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 may cause notice of the licence to be published in any other way it considers appropriate.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A licence may be granted subject to conditions which may be revoked or varied in accordance with this Act.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A licence is personal to the Authorized Institution and is incapable of being transferred.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 11.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Refusal of application.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the Central Bank proposes to refuse an
 application for a licence it shall give the applicant written notice of its intention to do so, stating the reasons why it proposes to act and giving particulars of the applicant\rquote s rights under Subsection (2).
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An applicant may make written representations within 28 days of receipt of the notice under Subsection (1).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where representations under Subsection (2) are made the Central Bank shall take them into account before reaching a decision on the application.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the Central Bank refuses an application it shall give written notice of that fact to the applicant.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Any notice under Subsection (4) shall be given before the end of the period of six months beginning on the day on which the application was received by the Central Bank or, where the
 Central Bank has under Section 10, required additional information or documents in connection with the application, before the end of whichever of the following first expires:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the period of six  months beginning with the day on which the additional information or documents are provided; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the period of 12 months beginning with the day on which the application was received.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 12.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Minimum capital.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A licence shall only be issued where the net assets of the applicant are not less than the relevant amount specified in Schedule 3.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the relevant amount specified in Schedule 3 is increased pursuant to the power in Section 55, every Authorized Ins
titution shall, within one year, bring its net assets up to the increased amount.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution licensed under the former Act shall, within one year (or such further time as prescribed by the Central Bank) from the date of commencement of this Act, bring its net assets to the relevant amount specified in Schedule 3.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 13.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Directors, chief executives and managers of Authorized Institutions to be fit and proper.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution shall ensure that:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the criteria specified in Schedule 2; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any relevant prudential standards,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
are fulfilled when appointing and continuing with the appointment of persons as directors, chief executives and managers.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, at any time, by notice in writing served on:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 any perso
n who is or is to be a director, chief executive or manager of an Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Authorized Institution concerned,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
require that person or the Authorized Institution (as the case may be) to provide the Central Bank, within such time as m
ay be specified in the notice, with such information or documents as the Central Bank may reasonably require for determining whether that person is a fit and proper person to hold the particular position which he holds or is to hold.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank m
ay serve a notice of objection to a director, chief executive, or manager (as the case may be) and the Authorized Institution concerned, stating the person concerned is not a fit and proper person to hold that particular position.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Before serving a notice of objection under Subsection (3) the Central Bank shall serve the person and the Authorized Institution concerned with a preliminary written notice stating that the Central Bank is considering the service on those persons of a not
ice of objection, and such notice shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
specify the reasons for which it appears to the Central Bank that the person in question is not or is no longer a fit and proper person; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 specify the action proposed by the Central Bank; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 give particulars of the rights conferred by Subsection (5).
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person or the Authorized Institution to be served with a notice under Subsection (3) may, within the period of 28 days beginning on the day on which the notice under Subsection (4) is served, make wri
tten representations to the Central Bank, and where such representations are made the Central Bank shall take them into account in deciding whether to serve a notice of objection.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 After giving a notice under Subsection (4) and taking into account any r
epresentation made under Subsection (5) the Central Bank shall decide whether:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to proceed with the action proposed in the notice under Subsection (4); or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to take no further action;  or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to impose other conditions or additional conditions on the person holding that particular position.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice of objection under this section shall specify reasons why the Central Bank is not satisfied that the person is fit and proper.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Subsections (4) and (7) shall not require the Central Bank to specify any reason which would in the opinion of the Central Bank involve the disclosure of protected information or disclose information which would be prejudicial to a third party.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice under Subsection (3) shall be given:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
within the period of 28 days beginning the day on which the representation under Subsection (5) was made to the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where no representation was made to the Central Bank under Subsection (5), within a period of 42 days beginning the day on which the notice under Subsection (4) was given.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 14.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Conditions on licence.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may at any time by notice in writing served on an Authorized Institution:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
impose conditions or additional conditions on a licence of the Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 vary or revoke such conditions.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The conditions referred to in Subsection (1) must relate to prudential matters.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A condition may be expressed to have effect notwithstanding anything in the prudential standards or the regulations.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Without limiting the generality of this section, the conditions imposed under this section may do any one or more of the following:\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
require the Authorized Institution to take certain steps or to refrain from adopting or pursuing a particular course of action or to restrict the scope of its business in a particular way;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 impose limitations on the acceptance of deposits, the granting of credit or the making of investments;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 prohibit the Authorized Institution from soliciting deposits, either generally or from persons who are not already depositors;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 prohibit the Authorized Institution from entering into any other transaction or class of transactions;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 require the removal of any directors, managers or chief executives.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution which fails to comply with any requirement or contravenes any prohibition imposed on it by a condition under this section is guilty of an offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 15.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Revocation of licence.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The Central Bank may revoke the licence of an Authorized Institution where it appears to the Central Bank that:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
any of the criteria specified in Schedule 2 are not or have not been fulfilled, or may not be or may not have been fulfilled, in respect of the Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Authorized Institution has failed to comply with any obligation imposed on it by or under this Act; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Authorized Institution has failed to comply with any condition imposed on the licence; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a person has b
ecome a shareholder controller or an indirect controller of the Authorized Institution in contravention of Section 20 or has become or remains a shareholder controller or indirect controller after being given a notice of objection by the Central Bank unde
r this Act; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank has been provided with false, misleading or materially inaccurate information:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 by or on behalf of the Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 in connection with an application for authorization; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 by or on behalf of a person who is a director, chief executive or manager of the Authorized Institution; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 f}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the interests of depositors or potential depositors of the Authorized Institution are in any other way threatened, whether by the manner in which the Authorized Institution is conducting or proposes to conduct its affairs or for any other reason;  or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 g}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Authorized Institution:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 has not accepted a deposit in Papua New Guinea in the course of carrying on banking business within the period of
 12 months beginning with the day on which it was licensed; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
having accepted a deposit or deposits as aforesaid, has subsequently not done so for any period of more than six months; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 h}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
where in the case of an Authorized Institution whose princip
al place of business is outside Papua New Guinea the relevant supervisory authority in that country or territory has withdrawn any licence or authorization corresponding to that conferred by the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 i}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any of the following has occurred with respect to the Authorized Institution:\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a composition or arrangement with creditors has been made in respect of the Authorized Institution;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a receiver or manager of the Authorized Institution\rquote s undertaking has been appointed; 
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
possession has been taken, by or on behalf of the holders of any debenture secured by a charge, of any property of the institution comprised in or subject to the charge;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iv)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 it has ceased to carry on business, gone into liquidatio
n or has been wound up or dissolved or if anything having an analogous effect has occurred in the place of incorporation of the Authorized Institution; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 j}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in the case of an Authorized Institution whose principal place of business is outside Papua New Guinea or is incorporated elsewhere, anything having an analogous effect to the events in Paragraph (i) has occurred.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 16.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Notice of conditions and revocation.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the Central Bank proposes:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 to revoke a licence; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to impose a condition or additional conditions on a licence; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to vary or revoke the conditions imposed on a licence otherwise than with the agreement of the Authorized Institution concerned,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Central Bank shall give to the Authorized Institution concerned no less than 28 days prior written notice of its intention to do so.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the proposed action is within Subsection (1)(b) or (c), the notice under that subsection shall specify the proposed conditions or the proposed variation, as the case may be.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice under Subs
ection (1) shall state the reasons why the Central Bank proposes to act and give particulars of the Authorized Institution\rquote s rights under Subsection (4).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution which is given notice under Subsection (1) may within a period of 28 days beginning on the day on which the notice was given make written representations to the Central Bank.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 After giving a notice under Subsection (1) and taki
ng into account any representations made under Subsection (4) the Central Bank shall decide whether:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to proceed with the action proposed in the notice; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to take no further action; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where the proposed action was to revoke the Authorized Institution\rquote s licence, to impose conditions on its licence instead; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where the proposed action was to vary conditions on the Authorized Institution\rquote s licence, to vary the conditions in a different manner.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall give the Authorized In
stitution written notice of its decision and, except where the decision is to take no further action, the notice shall state the reasons for the decision.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice under Subsection (6) of a decision to revoke or impose conditions on a licence shall hav
e the effect of revoking the licence or imposing conditions on the licence or varying conditions in the manner specified in the notice, as the case may be.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice under Subsection (6) shall be given:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
within the period of 42 days beginning on the day on which the representations under Subsection (4) were made to the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where no representation was made to the Central Bank under Subsection (4), within a period of 28 days beginning on the day on which the notice under Subsection (1) was given.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 17.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Conditions and revocation in cases of urgency.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 No notice need be given under Section 16 in respect of:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the revocation of the licence of an Authorized Institution where it appears to the Central Bank that:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a winding up order has been made against the Authorized Institution in Papua New Guinea; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Authorized Institution is insolvent or there is a significant risk that the Authorized Institution will become insolvent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 in
 the case of an Authorized Institution incorporated outside Papua New Guinea, an event has occurred in respect of it outside Papua New Guinea which corresponds to Subparagraphs (i) or (ii); or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the imposition or variation of conditions on the licence of an Authorized Institution in any case which the Central Bank considers that the conditions should be imposed or varied as a matter of urgency in order to protect the interests of depositors.

\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In any case to which Subsection (1) applies, the Central Ban
k may by written notice to the Authorized Institution immediately revoke the licence or impose or vary the conditions on the licence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice under Subsection (2) shall state the reasons for which the Central Bank has acted and particulars of the righ
ts conferred by Subsection (4).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution to which notice is given under this section may, within the period of 14 days beginning with the day on which the notice was given, make representations to the Central Bank.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 After giving a n
otice under Subsection (2) and taking into account any representations made in accordance with Subsection (4) the Central Bank shall decide whether:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to confirm or rescind its original decision; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to impose a different condition or vary the conditions in a different manner.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank shall, within the period of 28 days beginning on the day on which the notice was given under Subsection (2), give the Authorized Institution concerned writte
n notice of its decision under Subsection (5), and except where the decision is to rescind the original decision, the notice shall state the reasons for the decision.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a notice under Subsection (6) is a decision to take action specified in Subsect
ion (5)(b), the notice under Subsection (6) shall have the effect of imposing the condition or making the variation specified in the notice and with effect from the date on which it is given.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the notice of the proposed revocation of an Authorized Institution\rquote 
s licence under Section 16 is followed by a notice revoking its licence under this section, the latter notice shall have the effect of terminating any right to make representations under Section 16.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 18.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Surrender of authorization.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution may, by notice in writing to the Central Bank request approval to surrender its licence.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may accept a request under Subsection (1) where it is satisfied that the surrender would not be contrary to the interests of dep
ositors of the Authorized Institution.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The surrender will take effect on such date as may be specified by the Central Bank by notice in writing to the Authorized Institution.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall publish notice of the surrender in the National Gazette.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 19.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Publication of names of Authorized Institutions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, from time to time, publish a list of:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Authorized Institutions; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 exempted persons and transactions and any conditions attached to such exemptions pursuant to Section 8.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall include a list of Authorized Institutions and exempted persons and transactions and any conditions attached to such exemption
s pursuant to Section 8 when delivering annual reports to the Minister as required by the Central Banking Act 2000.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where an Authorized Institution proposes to change its name it shall give written notice to the Central Bank of the proposed name for the Central Bank\rquote s consent.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the Central Bank consents to a change of name, it shall publish that fact, together with the Authorized Institution
\rquote s new name, in the National Gazette.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART IV. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 OWNERSHIP AND CONTROL OF AUTHORIZED INSTITUTIONS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 20.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Objections to shareholder controllers or indirect controllers by the Central Bank.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
No person shall become a shareholder controller or an indirect controller of an Authorized Institution incorporated in Papua New Guinea or increase his stake in the Author
ized Institution beyond the maximum specified by the Central Bank pursuant to Subsection (2) unless:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
he has first notified the Central Bank in writing of his intention; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank has notified him in writing that there is no objection to his becoming such a controller or increasing his stake.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank, when notifying a person under Subsection (1)(b) that there is no objection to his becoming a shareholder controller of or increasing his stake in the Authorized Institution may s
pecify a maximum stake that the person is permitted to acquire.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
may specify the information that a notification under Subsection (1)(a) shall contain; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 may require by notice in writing such further information and documents as it may reasonably require, once a notification has been received.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Any notification under Subsection (1)(a) shall lapse, where the person has not become a shareholder controller or indirect controller or increased his stake within one year from the issuing of a notice of no objection under Subsection (1)(b).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Centr
al Bank shall not issue a notice of no objection under this section in respect of a notification to acquire a stake in a bank until the expiry of the periods referred to in Section 21(5).
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 21.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Objections by the Minister in national interest.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
a notification specified in Section 20(1)(a) is a notification of intention to become a shareholder controller or indirect controller of a bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a notification specified in Section 20(1)(a) is a notification of intention to increase a stake in a bank beyond that permitted under Section 20; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank becomes aware that a person has become a shareholder controller or an indirect controller of a bank or has increased his stake beyond that permitted under Section 20, in either case without 
the required notice under Section 20(1)(a),
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Central Bank shall promptly notify the Minister.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 After receiving a notification from the Central Bank under Subsection (1), the Minister may direct the Central Bank to issue a notice of objection to the p
erson in respect of the stake referred to in the notification where it appears to the Minister that to do so would be in the national interest.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Minister may give reasons for a direction under Subsection (2).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Minister may direct the Central 
Bank to require such further information and documents as he may reasonably require in connection with the matter from the person which is the subject of the notification.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Any direction under Subsection (2) shall be given before the end of the period o
f three months beginning on the day on which the notification from the Central Bank was received by the Minister or, where the Minister has directed the Central Bank under Subsection (4) to require additional information or documents in connection with th
e matter, before the end of whichever of the following first expires:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the period of three months beginning with the day on which the additional information or documents are provided to the Minister; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the period of six months beginning with the day on which the notification was received by Minister.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall promptly serve a notice of objection on that person where directed by the Minister.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice of objection served under this s
ection shall have the effect of terminating any right to make representations under Section 22.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 22.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Notice of objection.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may serve a notice of objection under this section on a person who has given a notification under Section 20 unles
s the person satisfies the Central Bank that:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the person concerned is a fit and proper person to become a shareholder controller or an indirect controller of the Authorized Institution or to increase his stake in the Authorized Institution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the person is likely to assist the Authorized Institution to fulfill the matters set out in Schedule 2 and the relevant prudential standards; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the interests of depositors or potential depositors of the Authorized Institution would not in any other mann
er be threatened by the person becoming or being a shareholder controller or indirect controller of, or increasing his stake in, the Authorized Institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Before serving a notice of objection under this section, the Central Bank shall serve the perso
n concerned with a preliminary notice setting out its intention to serve a notice under Subsection (1), and the reasons why it is not satisfied.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person served with a notice under Subsection (2) shall have a period of 28 days in which to make written 
representations to the Central Bank, and the Central Bank shall take into account any written representations received by it under this subsection.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice of objection under this section shall set out the reasons why the Central Bank is not satisfied
, except that such a notice may not include information, the disclosure of which would be prejudicial to a third party.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a person has:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
become a shareholder controller or an indirect controller, under Section 20; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 has increased his stake beyond any maximum stake specified under that section,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
without having first notified the Central Bank, the Central Bank may serve him with a notice of objection.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may require by notice in writing such further inf
ormation and documents as it may reasonably require for the purpose of deciding whether to serve a notice under Subsection (5).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice of objection under Subsection (2) shall be given before the end of the period of three months beginning on the day 
on which the Central Bank received the notification under Section 20 or, where the Central Bank has required additional information or documents in connection with the matter under that section, before the end of whichever of the following first expires:

\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the period of three months beginning with the day on which the additional information or documents are provided to the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the period of six months beginning with the day on which the notification was received by the Central Bank.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 T
he periods referred to in Subsection (7) shall be extended as necessary by up to 56 days, from the day on which the preliminary notice served under Subsection (2) was served.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The periods referred to in Subsections (7) and (8) shall, in the case of a ba
nk, not expire before the end of the appropriate period referred to in Section 21(5).
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 23.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Notification of intention to increase the stake.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a person who already is a shareholder controller, and who has not received a notice of objection under Sect
ion 22, wishes to increase his stake in the relevant Authorized Institution beyond that permitted under Section 20, he shall notify the Central Bank under Section 20 of his intention.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Upon receiving the notice of intention referred to in Subsection (1)
, the procedures set out in Sections 20 and 22 shall then apply but with respect to the increased stake which is mentioned in that notice of intention.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 24.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Objections to existing shareholder controllers and indirect controllers.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where it appears to the Central Bank that a person who is a shareholder controller or an indirect controller of an Authorized Institution does not or no longer meets the requirements set out in Section 22(1) to be such a controller, it may serve him with 
a written notice of objection to him being such a controller.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Before serving a notice under Subsection (1), the Central Bank shall serve a preliminary notice, setting out its reasons for considering that the person is not or is no longer fit and proper 
to be a shareholder controller or an indirect controller of that Authorized Institution.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person served with a notice under Subsection (2) has a period of 28 days in which to make written representations to the Central Bank, and the Central Bank shall take into account any written representation received by it under this subsection.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A notice of objection under this section shall specify the reasons why it appears to the Central Bank that the person is not or is no longer a fit and proper person to be a shareholder controller or indirect controller.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank is not required to specify any reason in a notice issued under this section, where this would in its opinion involve the disclosure of confidential information the disclosure of which would be prejudicial to a third party.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 25.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Contraventions by shareholder controller and indirect controller.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subject to Subsection (2), a person who contravenes this Part  by failing to give the notice required by Section 20(1)(a) or 23(1), is guilty of an offence.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person is not guilty of an offence under Subsection (1) where he shows that he did not know of the acts or circumstances by virtue of which he became a shareholder controller or indirect controller, or increased his stake in the Author
ized Institution beyond the maximum permitted by the Central Bank, but where any person becomes a shareholder controller or indirect controller or increases his stake without such knowledge and subsequently becomes aware of the fact he is guilty of an off
ence unless he gives the Central Bank written notice of the fact within 14 days of becoming aware of that fact.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 26.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Remedial orders.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The powers conferred by this section are exercisable where a person has contravened this Part by becoming or continuing 
to be a shareholder controller or indirect controller or increasing his stake beyond the maximum specified by the Central Bank pursuant to Section 20(2) after being served with a notice of objection to his becoming or remaining a shareholder controller or
 indirect controller or increasing his stake beyond the maximum specified by the Central Bank pursuant to Section 20(2).
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where a person contravenes this Part by becoming or continuing to be a shareholder controller or increasing his stake beyond the maximum specified by the Central Bank pursuant to Section 20(2), the Central Bank may, by notice in writing served on the pers
on concerned including any associate, direct that any specified shares to which this Section applies shall, until further notice, be subject to restrictions as notified by the Central Bank including all or any of the following:\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 any transfer of, or agre
ement to transfer, those shares or, in the cases of unissued shares, any transfer of or agreement to transfer the right to be issued with them shall be void;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 no voting rights shall be exercisable in respect of the shares;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 no further shares shall be issued in right of them or in pursuance of any offer made to their holder;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 except in a liquidation, no payment shall be made of any sums due from the institution on the shares, whether in respect of capital or otherwise.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a person contravenes
 this Part by becoming or continuing to be an indirect controller, the Central Bank may, by written notice to that person, require that person to take such steps as are necessary to ensure that the person ceases to be an indirect controller.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A copy of 
the notice served on the person concerned under Subsections (2) and (3) shall be served on the Authorized Institution to whose shares it relates and, where it relates to shares held by an associate of that person, on that associate.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Without prejudice t
o Subsection (2) or (3), where a person contravenes this Part, the National Court may, on application by the Central Bank, make such orders as the court considers appropriate for the purpose of ensuring that that situation ceases to exist.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Orders of the National Court under Subsection (5) may include:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in the case of a shareholder controller:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 an order directing the disposal of shares; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 an order restraining the exercise of any rights attached to shares; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 an order prohibiting or deferring the payments of any sums due to a person in respect of shares held by the person; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iv)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 an order that any exercise of rights attached to shares be disregarded;  or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in the case of an indirect controller, an order to ensure the person ceases to be an indirect controller.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subsection (6) does not, by implication, limit Subsection (5).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In addition to the powers of the National Court under Subsections (5) and (6), the Court:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
has power, for the purpose of securing compliance with any other order made under this section, to make an order directing any person to do or refrain from doing a specified act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 has power to make an order containing such ancillary or consequential provisions as the Court thinks just.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The National Court may, before making an order under this section, direct that notice of the application be given to such persons as it thinks fit or be published in such manner as it thinks fit, or both.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (10) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The 
National Court may, by order, rescind, vary or discharge an order made by it under this section or suspend the operation of such an order.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (11) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 This section applies:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to all the shares in the Authorized Institution of which the person in question is a s
hareholder controller which are held by him or any associate of his and were not so held immediately before becoming a shareholder controller of the Authorized Institution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where the person in question became a shareholder controller of an Authoriz
ed Institution as a result of the acquisition by him or any associate of his of shares in another body corporate, to all the shares in that body corporate which are held by him or any associate of his and were not so held before he became a shareholder co
ntroller of the Authorized Institution.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART V. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 PRUDENTIAL SUPERVISION OF AUTHORIZED INSTITUTIONS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 27.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Central Bank may make prudential standards for Authorized Institutions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, in writing, determine standards, known as prudential standards, in relation to prudential matters to be complied with by:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
all Authorized Institutions; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a specified class of Authorized Institutions; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 one or more specified Authorized Institutions; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 shareholder controllers; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 indirect controllers; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 f}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the group of which the Authorized Institution is a member.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A prudential standard may impose different requirements to be complied with in different situations or in respect of different activities.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, in writing, vary or revoke a prudential standard.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank shall circulate to all Authorized Institutions and shall publish in such manner as it thinks fit, each prudential standard, and any variation or revocation of such standard.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the Central Bank considers that a prudential standard or any variation or revocation of a standard contains commercially sensitive or confidential information:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Central Bank is not required to circulate or publish that information under Subsection (4); but
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank may include some or all of that information in the circulation or publication under Subsection (4) where the Central Bank considers it appropriate to do so.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A failure to comply with this section does not affect the validity of the action concerned taken by the Central Bank.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART VI. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 INFORMATION AND INVESTIGATION.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 28.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Central Bank to be supplied with certain documents.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution shall supply the information specified in Schedule 4.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Any proposed alteration to the Act, charter, deed of settlement, constitution or other constituent document of the applicant shall be submitted to the Central Bank for approval.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution which fails to supply the information or give a notice required by this section, is guilty of an offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 29.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Power to obtain information and require production of documents.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may by notice in writing served on an Authorized Institution:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
require the Authorized Institution to provide the Central Bank, at such time as may be specified in the notice, with such information as the Central Bank may reasonably require for the performance of its functions under this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
require the Authorized Institution to provide the Central Bank with a report by an accountant or other person with relevant professional skill on any matter about which the Central Bank has required or could require the Authorized Institution
 to provide information under Paragraph (a).
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The accountant or other person appointed under Subsection (1)(b) shall be a person nominated or approved by the Central Ba
nk, and the Central Bank may require his report to be in such form as is specified in the notice.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
by notice in writing served on an Authorized Institution require it to produce, within such time and at such place as may be specified in the notice, such document or documents of such description as may be so specified; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 authorize an officer or agent of the Central Bank, on producing evidence of his authority, to require any such Authorized Institution to provide him forthw
ith such information, or to produce to him forthwith such documents, as he may specify,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
being such information or documents as the Central Bank may reasonably require for the performance of its functions under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall have powe
r to require the production of the documents referred to in Subsection (3) from any person who appears to be in possession of them, but where any person from whom such production is required claims a lien on documents produced by him, the production shall
 be without prejudice to the lien.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The power under this section to require an Authorized Institution or other person to produce any documents includes power:

\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
where the documents are produced, to take copies of them or extracts from them and to requi
re that Authorized Institution or person, or any other person who is a present or past director, chief executive or manager of, or is or was at any time employed by or acting as an employee of, the Authorized Institution in question, to provide an explana
tion of any of them; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where the documents are not produced, to require the person who was required to produce them to state, to the best of his knowledge and belief, where they are.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where it appears to the Central Bank to be necessary or desirabl
e in the interests of depositors or potential depositors in an Authorized Institution, it may also exercise the powers conferred by Subsections (1) and (3) in relation to:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
any body corporate which is or has at any relevant time been:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a holding company, subsidiary or related company of that Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a subsidiary or a related company of a holding company of that Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a holding company of a subsidiary of that Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iv)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
a body corporate in the case of which a shareholder controller of that Authorized Institution, either alone or with any associate or associates, is entitled to exercise, or control the exercise of, more than 15% of the voting power at a general meeting;
 or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
any other business including a partnership or joint venture of which that Authorized Institution is or has been at any relevant time a participant.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may by notice in writing served on any person who is or is to be a director, ch
ief executive or manager of an Authorized Institution require him to provide the Central Bank, within such time as may be specified in the notice, with such information or documents as the Central Bank may reasonably require for determining whether he is 
a fit and proper person to hold the particular position which he holds or is to hold.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank may exercise the powers conferred by this section in relation to any person who is a shareholder controller or indirect controller of an Authorized In
stitution where it appears to the Central Bank to be necessary or desirable in the interests of protecting depositors or potential depositors.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may exercise the powers conferred by this section in relation to any person where the Centra
l Bank considers there is a contravention or a reasonable likelihood of a contravention of this Act or regulations made under this Act or a prudential standard.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (10) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who, without reasonable excuse, fails to comply with a requirement imposed under 
this section is guilty of an offence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (11) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Nothing in this section shall compel the production of a document which is subject to legal professional privilege.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 30.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Right of entry to obtain information and documents.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An officer or agent of the Central Ba
nk may, on producing where required, evidence of his authority, enter any premises occupied by a person on whom a notice has been served under Section 29 for the purpose of obtaining there the information or documents required by that notice and of exerci
sing the powers conferred by that section.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An officer or agent of the Central Bank may, on producing where required evidence of his authority, enter any premises occupied by any person on whom a notice could be serve
d under Section 29 for the purpose of obtaining there such information or documents as are specified in the authority, being information or documents that could have been required by such a notice, but the Central Bank shall not authorize a person to act 
under this subsection unless it has reasonable cause to believe that if such a notice were served it would not be complied with or that any documents to which it would relate would be removed, tampered with or destroyed.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person, who intentionally obstructs a person exercising rights conferred by this section is guilty of an offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 31.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Investigations on behalf of the Central Bank.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where it appears to the Central Bank desirable to do so in the interests of the depositors or potential depositors of 
an Authorized Institution, the Central Bank may appoint one or more competent persons to investigate and report to the Central Bank on:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the nature, conduct or state of the Authorized Institution\rquote s business or any particular aspect of it; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the ownership or control of the Authorized Institution,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
and the Central Bank shall give written notice of any such appointment to the Authorized Institution concerned.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a person appointed under Subsection (1) thinks it necessary for the purposes of his investigation, he may also investigate:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the business of any body corporate which is or has at any relevant time been:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a holding company, subsidiary or related company of the Authorized Institution under investigation;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a subsidiary or related company of a holding company of that Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a holding company of a subsidiary of that Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iv)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 a body corporate in the case of which a shareholder controller of that Authorized Institution, either alone or wit
h any associate or associates, is entitled to exercise, or control the exercise of, more than 15% of the voting power at a general meeting; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
or any other business including a partnership or joint venture in which that Authorized Institution is or has been at any relevant time a participant.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where a person appointed under Subsection (1) decides to investigate the business of any body by virtue of Subsection (2) he shall give it written notice to that effect.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 It shall be the duty of every person
 who is or was a director, chief executive, manager, employee, agent, banker, auditor or lawyer of a body which is under investigation (whether by virtue of Subsection (1) or (2)), any person appointed to make a report in respect of that body under Sectio
n 29 and anyone who is a shareholder controller or indirect controller in relation to that Authorized Institution:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to produce to the persons appointed under Subsection (1), within such time and at such place as they may require, all documents relating to the Authorized Institution concerned which are in his custody or power; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to attend before the persons so appointed at such time and place as they may require; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 otherwise to give those persons all assistance in connection with the investigation which he is reasonably able to give;
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
and those persons may take copies of or extracts from any documents produced to them under Paragraph (a).
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The foregoing provisions of this section shall apply to a former Authorized Institution as they apply to an Authorized Institution.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 For the purpose of exercising his powers under this section a person appointed under Su
bsection (1) may enter any premises occupied by a body which is being investigated by him under this section, but he shall not do so without giving prior notice in writing unless he has reasonable cause to believe that where such a notice were given any d
ocuments whose production could be required under this section would be removed, tampered with or destroyed.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person exercising powers by virtue of an appointment under this section shall, where so required, produce evidence of his authority.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
without reasonable excuse fails to produce any documents which it is his duty to produce under Subsection (4); or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 without reasonable excuse fails to attend before the persons appointed under Subsection (1) when required to so do; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
without reasonable excuse fails to answer any question which is put to him by persons so appointed with respect to an Authorized Institution which is under investigation or a body which is being investigated by virtue of Subsection (1) or (2); or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 intentionally obstructs a person in the exercise of the rights conferred by Subsection (6),
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
is guilty of an offence.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Nothing in this section shall compel the production of a document which is subject to legal professional privilege.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 32.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Investigations of suspected contraventions of this Act.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the Central Bank has reasonable grounds for suspecting that a person is guilty of contravening this Act, the Central Bank or any duly authorized officer or agent of the Central Bank may by notice in writing require that or any other person:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to provide, at such place as may be specified in the notice and either forthwith or at such time as may be so specified, such information as the Central Bank may reasonably require for the purpose of investigating the suspected contravention; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to produce, at such place as may be specified in the notice and either forthwith or at such time as may be so specified, such document or documents of such description, as may be specified, being documents the production of
 which may be reasonably required by the Central Bank for that purpose; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to attend at such place and time as may be specified in the notice and answer questions relevant for determining whether such a contravention has occurred.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank or a duly authorized officer or agent of the Central Bank may take copies of or extracts from any documents produced under this section.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An officer, or agent of the Central Bank may, on producing where required evidence of his authority, enter any pre
mises occupied by a person on whom a notice has been served under Subsection (1) for the purpose of obtaining the information or documents required by the notice, putting the questions referred to in Subsection (1)(c) or exercising the powers conferred by
 Subsection (2).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person, who without reasonable excuse fails to comply with a requirement imposed on him under this section or intentionally obstructs a person in the exercise of the rights conferred by Subsection (3) is guilty of an offence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Nothing in this section shall compel the production of a document which is subject to legal professional privilege.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 33.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Obstruction of investigations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 A person who knows or suspects that an investigation is being or is likely to be carried out :
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 under Section 32; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 into a suspected contravention of this Act,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
is guilty of an offen
ce where he falsifies, conceals, destroys or otherwise disposes of, or causes or permits the falsification, concealment, destruction or disposal of, documents which he knows or suspects are or would be relevant to such an investigation, unless he proves t
hat he had no intention of concealing facts disclosed by the documents from persons carrying out such an investigation.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 34.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 False and misleading information.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person, who knowingly or recklessly provides the Central Bank or any other person with inform
ation which is false or misleading in a material particular, is guilty of an offence where the information is provided :
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in purported compliance with a requirement imposed by or under this Act; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
otherwise than as mentioned in Paragraph (a) but in circumstances in which the person providing the information intends, or could reasonably be expected to know, that the information would be used by the Central Bank for the purpose of exercising its func
tions under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person, who knowingly or recklessly provides the Central Bank or any other person with information which is false or misleading in a material particular is  guilty of an offence where the information is provided in connection wit
h an application for authorization under this Act.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person, who knowingly or recklessly provides any person appointed under Section 32 with information which is false or misleading in a material particular, is  guilty of an offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 35.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Duty to give information.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution is under a duty promptly to provide the Central Bank with any information in its possession where the Authorized Institution knows or has or having reasonable cause to believe:\endash 
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
that the information is relevant to the exercise by the Central Bank of its functions under this Act in relation to the Authorized Institution; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 that the withholding of the information is likely to result in the Central Bank being misled as to any matter which is relevant to and o
f material significance for the exercise of those functions in relation to the Authorized Institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who is or has been:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
a director or chief executive or manager of an Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 an auditor of an Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 an auditor of a body corporate in the Authorized Institution\rquote s group; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a person appointed to make a report under Section 29 or 32,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
is under a duty promptly to inform the Central Bank of any matter where he has reasonable grounds for believing that:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Authorized Institution is insolvent, or there is a significant risk that the Authorized Institution will become insolvent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 f}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 an existing or proposed state of affairs may materially prejudice the interests of depositors of the Authorized Institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
In relation to an auditor under Subsection (2)(b) or (c), this Subsection (2) applies to any matter of which he becomes aware in his capacity as auditor and which relates to the business or affairs of the Authorized Institution and any 
group of which it is a member.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
No duty to which a person specified in Subsection (2) may be subject shall be regarded as contravened by reason of his communicating in good faith to the Central Bank, whether or not in response to a request made by the C
entral Bank, any other information or opinion, which is relevant to any function of the Central Bank under this Act.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person, who contravenes this section, is guilty of an offence.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART VII. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 POWER TO TAKE CONTROL OF AN AUTHORIZED INSTITUTION.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 36.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Consequences of inability or failure of Authorized Institution to meet obligations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The Central Bank may take control of the business of an Authorized Institution or appoint an administrator to take control of the business of an Authorized Institution where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Authorized Institution informs the Central Bank that the Authorized Institution considers that it is likely to become unable to meet its obligations or that it is about to suspend payment; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank considers that the Authorized Institution is likely to become unable to meet its obligations or is about to suspend payment; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Authorized Institution becomes unable to meet its obligations or suspends payment; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Authorize
d Institution fails to implement or observe or breaches a prudential standard or a condition imposed on its licence such that, in the opinion of the Central Bank, the interests of the depositors of the Authorized Institution are materially threatened.

\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 37.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Statutory managers - termination of control.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the Central Bank assumes control of the business of an Authorized Institution or appoints an administrator of the business of an Authorized Institution, the Central Bank shall ensure that either it or 
an administrator of the business of the Authorized Institution has control of the business of the Authorized Institution until:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the following conditions are satisfied:\endash 
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the deposits of the Authorized Institution have been repaid or the Central Bank is satisfied that suitable provision has been made for their repayment; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Central Bank considers that it is no longer necessary for it or an administrator to remain in control of the business of the Authorized Institution; or
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the Central Ban
k considers that the Authorized Institution is insolvent and is unlikely to be returned to solvency within a reasonable time, and the Central Bank has applied for the Authorized Institution to be wound up under the Companies Act 1997.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Before finally terminating control of a statutory manager of the business of the Authorized Institution, the Central Bank shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
ensure that directors of the Authorized Institution have been appointed or elected under the constitution of the Authorized Institution at a
 meeting called by the statutory manager of the Authorized Institution in accordance with the constitution of the Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 appoint directors of the Authorized Institution by instrument in writing; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 ensure that a liquidator for the Authorized Institution has been appointed.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the requirements in Subsections (1) and (2) are satisfied, the Central Bank may by instrument in writing terminate control of the business of the Authorized Institution by a statutory manager.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Whe
re a director is elected or appointed under Subsection (2), the director takes office on the termination of the control by the statutory manager of the business of the Authorized Institution.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a director was appointed by the Central Bank, he holds
 office until the next annual general meeting of the Authorized Institution, subject to any terms and conditions imposed by the Central Bank on the director\rquote 
s appointment,  a director was appointed or elected under the constitution of the Authorized Institution, the constitution governs the appointment.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 38.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Powers and functions of statutory manager.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A statutory manager has the powers and functions of the directors of the Authorized Institution (collectively and individually), including the board\rquote 
s powers of delegation.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A statutory manager may, for the purposes of this Part, require the Authorized Institution or a person who has, at any time, been an officer of the Authorized Institution to give the statutory manager any information relating to
 the business of the Authorized Institution that the statutory manager requires.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution or any other person who fails to comply with any requirement to give information under Subsection (2) is guilty of an offence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A statutory ma
nager may on any terms and conditions that he considers appropriate, sell or otherwise dispose of the whole or any part of the business of the Authorized Institution.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 39.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Liabilities and duties of statutory manager.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where an Authorized Institution incu
rs any loss because of any fraud, dishonesty, gross negligence or wilful failure to comply with this Act by the statutory manager, the statutory manager is liable for the loss.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A statutory manager is not liable for a loss that is not a loss incurred because of fraud, dishonesty, gross negligence or wilful failure to comply with this Act.

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where the statutory manager is an administrator of the business of the Authorized Instituti
on, the administrator must provide details of the loss in a written report to the Central Bank, but failure to do so does not make the administrator liable for the loss.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A statutory manager is not to be taken to be a director for the purposes of Sectio
ns 107, 348 and 350 of the Companies Act 1997.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 40.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Administrator in control - additional duties.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who is an administrator of the business of an Authorized Institution shall give to the Central Bank a written report showing how the control of th
e business of the Authorized Institution is being carried out where the Central Bank requests that such a report be provided to it.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who is an administrator of the business of an Authorized Institution shall on the termination of his appointmen
t, give to the Central Bank a written report showing how the control of the business of the Authorized Institution was carried out over the period of the administrator\rquote s appointment.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may give an administrator of the business of an Auth
orized Institution a direction relating to the control of the business of the Authorized Institution and may alter such a direction and where a direction (including an altered direction) is given to an administrator, the administrator shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 act in acc
ordance with the direction; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 immediately provide to the Central Bank information relating to the control of the business of the Authorized Institution and request the Central Bank to alter the direction.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where an administrator of the business of 
an Authorized Institution requests the Central Bank to alter a direction and the Central Bank after considering the request confirms the direction, the administrator shall act in accordance with the direction.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 41.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Termination of appointment of administrator.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where an administrator of the business of an Authorized Institution contravenes a requirement under this Act, the Central Bank may terminate the  appointment of the administrator.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The terms and conditions of the appointment of the administrator may provide for termination in circumstances in addition to those mentioned in Subsection (1).

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 This section has effect subject to Section 37.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 42.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Effect on directors of statutory manager taking control of the business of an Authorized Institution.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The directors of an Authorized Institution cease to hold office when a statutory manager takes control of the business of the Authorized Institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A director of an Authorized Institution shall not be appointed or elected while a statutory manager is
 in control of the business of the Authorized Institution unless the appointment is made under Section 37(2).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where a person who ceased to hold office under Subsection (1), or a purported director of the Authorized Institution appointed or elected in c
ontravention of Subsection (2), purports to act in relation to the business of the Authorized Institution while a statutory manager has control of the business of the Authorized Institution, those acts are invalid and of no effect.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 43.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Effect on external administrator of statutory manager taking control of the business of an Authorized Institution.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The appointment of an external administrator of an Authorized Institution is terminated when a statutory manager takes control of the business of the Authori
zed Institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An external administrator of an Authorized Institution shall not be appointed while a statutory manager is in control of the business of the Authorized Institution unless the Central Bank approves the appointment.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a person wh
o ceased to be the external administrator of an Authorized Institution under Subsection (1), or a purported external administrator of the Authorized Institution appointed in contravention of Subsection (2), purports to act in relation to the business of t
he Authorized Institution while a statutory manager has control of the business of the Authorized Institution, those acts are invalid and of no effect.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank shall inform the external administrator of an Authorized Institution that a statutor
y manager will take control of the business of the Authorized Institution as soon as possible after the decision that a statutory manager will take control of the business of the Authorized Institution is made, but failure to inform the external administr
ator does not affect the operation of this section.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 44.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Effect on legal proceedings of statutory manager taking control of the business of an Authorized Institution.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person cannot begin or continue a proceeding in a court against an Authorized Institu
tion while a statutory manager is in control of the business of the Authorized Institution unless:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the court grants leave on the ground that the person would be caused hardship if leave were not granted; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank consents to the proceedings beginning or continuing.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person intending to apply for leave of the court under Subsection (1)(a) shall give the Central Bank at least 10 days notice of the intention to apply, and the Central Bank may apply to the court to be joined as a party to the proceedings for leave.

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
In this Section, a reference to a proceeding against an Authorized Institution includes a reference to a cross-claim or third party claim against an Authorized Institution.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 45.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Statutory manager being in control not grounds for denial of obligations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Subject to Subsection (2), the fact that a statutory manager is in control of the business of an Authorized Institution is not a ground for any other party to a contract to which the Authorized Institution is a party:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to deny any obligations under that contract; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to accelerate any debt under that contract; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to close out any transaction relating to that contract.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Head of State, acting on advice, may by regulation prescribe circumstances under which Subsection (1) does not apply.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 46.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Costs of statutory management.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The costs incurred by the Central Bank (including costs in the nature of remuneration and expenses) of being in control of  the business of an Authorized
 Institution, or of having an administrator in control of the business of an Authorized Institution, are payable from the funds of the Authorized Institution and are a debt due to the Central Bank.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 47.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Central Bank to give notice of statutory management.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 W
here the Central Bank appoints a statutory manager or terminates his appointment the Central Bank shall publish notice of that fact in the National Gazette, but   failure to publish such a notice does not affect the validity of the act.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 48.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Powers of Central Bank to apply for authorized institution to be wound up.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank may apply to the National Court for an order that an Authorized Institution be wound up where the Central Bank considers that the Authorized Institution is insolvent and could not be restored to solvency within a reasonable period.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The winding up of an Authorized Institution is to be conducted in accordance with the Companies Act 1997 or any other law under which Authorized Institution is incorporated or is taken to be incorporated.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART VIII. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 SURVEILLANCE OF DEPOSIT ADVERTISING.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 49.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Invitations to make deposits.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Regulations may be made for the issue, form and content of deposit advertisements.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Regulations under this section may make different provision for different cases and, without prejudice to the generality of Subsection (1) may:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
prohibit the issue of advertisements of any description (whether by reference to their contents, to the persons by whom they are issued or otherwise); or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 make provision with respect to matters which must be, as well as matters which may not be, included in advertisements; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 provide for exemptions for any prohibition or requirements imposed by the regulations.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 50.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Advertisements.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the Central Bank is of the opinion that any advertisement issued in connection with banking business makes a statement or any representation that is false, misleading or deceptive, the Central Bank may, by notice in writing served on the person or p
ersons who arranged the advertisement, require them to withdraw or, as the circumstances require, remove, and to cease issuing such advertisements and the person or persons served with such a notice shall, accordingly, comply with that notice.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subject t
o Subsection (3), a person, who issues or causes to be issued an advertisement, the issue of which is prohibited by regulations or by this Part or which does not comply with any requirements imposed by regulation or by this Part, is guilty of an offence.

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person whose business it is to publish or to arrange for the publication of advertisements is not be guilty of an offence under this section where he proves:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
that he received the advertisement for publication in the ordinary course of his business; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 that the matters contained in the advertisement were not (wholly or in part) devised or selected by him or by any person under his direction or control; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 that he did not know and had no reason for believing that publication of the advertisement would constitute an offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 51.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 False or misleading inducement to make a deposit.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
makes or attempts to make a statement, promise, forecast or  information which he knows or ought reasonably to have known to be misleading, false or deceptive or dishonestly conceals any material facts; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 recklessly makes or attempts to make (dishonestly or otherwise) a statement, promise or forecast or disseminates information which is misleading, false or deceptive,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
is guilty of an offence where he makes or attempts to make the statement, promise or forecast or disseminates the information or conceals the facts for the purpose of inducing, or is reckless as to whether it may induce another person:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
to make, or refrain from making, a deposit with him or any other person; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 to enter, or refrain from entering, into an agreement for the purpose of making such a deposit.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 For the purposes of this section, exempt transactions under Section 8(1)(b) shall be included in the definition of deposit.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART IX. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 SECRECY.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 52.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Secrecy.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In this Part:
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93officer\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means:
\par }\pard\plain \ltrpar\s42\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Governor, the Deputy Governor or any other member of the Board; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 an officer of the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any other person engaged by the Central Bank to perform services for the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any other person who, because of his employment, or in the course of that employment:
\par }\pard\plain \ltrpar\s43\qj \fi-720\li2880\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 has acquired protected information; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 has had access to protected documents.
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93produce\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  includes permit access to;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93protected document\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
 means a document given or produced (whether before or after the commencement of this Act) under, or for the purposes of, this Act, and containing information relating to the affairs of an
y person other than a document that has already been lawfully made available to the public;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93protected information\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
 means information, data or forecasts disclosed or obtained (whether before or after the commencement of this Act) under, or for the purposes
 of, this Act, and relating to the affairs of any person other than information that has already been lawfully made available to the public.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subject to this section, a person shall not, except for the purposes of this Act, directly or indirectly disclo
se to any person, any protected information or protected document acquired by that first-mentioned person.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Subsection (2) does not prohibit a person from disclosing protected information, or producing a protected document, where the person to whose aff
airs the information or document relates and, where different, the person from whom the information or document was received, agrees in writing to the disclosure of the information or the production of the document, as the case may be.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 It is not an off
ence where the disclosure of protected information or the production of a protected document by a person occurs when the person is satisfied that the disclosure of the information, or the production of the document, will assist the Central Bank to perform
 its functions or exercise its powers.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
It is not an offence where the disclosure of protected information or the production of information of a protected document by the Central Bank occurs when the Central Bank is satisfied that the disclosure of the i
nformation, or the production of the document:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
will assist the Central Bank to perform its functions or exercise its powers; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 is to the Minister or the relevant Department; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 will assist another financial supervisory agency, whether in Papua
 New Guinea or elsewhere, to perform its functions or exercise its powers, provided that the Central Bank is satisfied that the information or document is subject to a secrecy provision no less stringent than that set out in this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 It is not an offence where the disclosure of protected information or the production of a protected document is under compulsion or obligation of law.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subsection (2) does not prohibit a person from disclosing protected information, or producing a protected document to 
the Central Bank.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Subsection (2) does not prohibit a person from disclosing information, or producing a document, where the information, or the information contained in the document, as the case may be, is in the form of a statistical summary or collec
tion of information that is prepared so that information relating to any particular person cannot be found out from it.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Every person who contravenes this Part is guilty of an offence.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART X. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 MISCELLANEOUS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 53.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Power to make regulations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The Head of State, acting on advice, may make, amend or vary regulations which:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
are not inconsistent with this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 prescribe all matters that by this Act are:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 required or permitted to be prescribed; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 necessary or convenient to be prescribed for carrying out or giving effect to this Act; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
provide that an offence may be prosecuted either summarily or on indictment;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 provide penalties for offences against the regulations, not exceeding:
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K100,000.00; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 imprisonment for a term not exceeding two years; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs111\fs24\insrsid4411461 (iii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 both such fine and imprisonment.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 54.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Offences and penalties.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person convicted of an offence against any of the sections listed in Part 1 of Schedule 5 is liable to a fine or i
mprisonment or both as listed in Part 1 of Schedule 5.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person convicted of an offence against any of the sections listed in Part 2 of Schedule 5 is liable to a fine or imprisonment or both as listed in Part 2 of Schedule 5.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who contraven
es any other provision of this Act is liable to a fine or imprisonment or both as listed in Part 3 of Schedule 5.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where a person does or fails to do an act in circumstances that give rise to the person committing an offence against this Act, the person is guilty of an offence against this Act in respect of:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the first day on which the offence is committed; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 each subsequent day (if any) on which the circumstances that gave rise to the person committing the offence continue (including the day of conviction for any such offence or any later day).
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 55.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Power to amend Schedules, etc.,.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The Head of State, acting on advice, may, by regulation amend the monetary amounts specified in the Schedules or in Section 53.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 56.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Prosecutions and other actions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
prosecute any offence by a person against this Act, by summary prosecution or by prosecution as an indictable offence as the case may be; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 commence a civil action against a person for any form of civil relief which is available in respect to the matters constituting the offence.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Any prosecution or action commenced by the Central Bank in relation to an offence committed under this Act shall be heard by the National Court.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Notwithstanding Section 524 of the Criminal C
ode Act (Chapter 262), following a committal for an offence under this Act the Central Bank is authorized to present an indictment against the accused, and a copy of any such indictment shall be served on the Public Prosecutor and the Public Prosecutor ma
y withdraw the indictment within 14 days of service of the indictment on him.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
In any prosecution or action brought under this Act by the Central Bank or against the Central Bank, the Court may award costs against any party or claimant other than the Central Bank, which costs may be recovered by the Central Bank as a debt to the Cen
tral Bank.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
In any action brought by the Central Bank under this Act, the Court may, on application by the Central Bank whether as interlocutory or final relief, order a person to cease any activity until further order.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Any order made by the Court un
der Subsection (5) shall be made on condition that the Central Bank is not responsible for any loss of income or profit which may be incurred by the enterprise as a consequence of that order.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Any fine, to be paid by a person as a result of an action or
 prosecution by the Central Bank shall be paid to the Central Bank and, in addition to any other remedy, may be recovered by the Central Bank as a debt to the Central Bank.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 57.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Injunctions and other orders.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where, on the application of the Central Bank or the Public Prosecutor, the National Court is satisfied:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
that there is a reasonable likelihood that a person will contravene this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 that any person has been guilty of any such contravention and that there is a reasonable likelihood that the contravention will continue or be repeated,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the Court may grant an injunction restraining and /or prohibiting  the contravention as the Court deems appropriate.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where, on the application of the Central Bank or the Public Prosecutor, it appears to th
e National Court that a person may have been guilty of such a contravention as is mentioned in Subsection (1) the court may grant an injunction restraining him from disposing of or otherwise dealing with any of his assets while the suspected contravention
 is investigated.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 58.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Liability of defaulting officers.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Where an offence under this Act committed by a body corporate is proved to have been committed with the consent or connivance of, or to be attributable to, any neglect on the part of any officer of the
 body corporate, or any person who was purporting to act in any such capacity, that person, as well as the body corporate, shall be guilty of the offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 59.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Protection from liability and indemnity.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subject to Subsection (2) the Central Bank, every me
mber of the Board, every officer of the Central Bank is not subject to any liability to any person in respect of anything done or omitted to be done, in the exercise or performance, or the purported exercise or performance, of powers, functions or duties 
conferred or imposed on the Central Bank, the Board, a member of the Board or an officer by or under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subsection (1) does not apply to an act or omission in bad faith.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An officer and every member of the Board of the Central Bank shall be in
demnified by the Central Bank in respect of any liability arising from the exercise or purported exercise of, or omission to exercise, any power conferred by this Act unless it is shown that the exercise or purported exercise of, or omission to exercise, 
the power was in bad faith.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The indemnity conferred by Subsection (1) extends to legal costs incurred in defending a proceeding.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 60.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Fees payable by Authorized Institutions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution shall, within 14 days after the date on which a licence is granted, pay to the Central Bank:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in the case of a bank, the banking licence fee specified in Part 2 of Schedule 6; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 in the case of a licensed financial institution, the financial institution licence fee specified in Part 3 of Schedule 6.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Every Authorized Institution shall pay to the Central Bank on or before 1 January in each year:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in the case of a bank, the annual banking licence fee specified in Part 4 of Schedule 6; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 in the case of a licensed financial institution, the annual financial institution licence fee specified in Part 5 of Schedule 6.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Fees are d
ebt due to the Central Bank and if not paid within 14 days of the due date the Central Bank may appropriate from any deposits held by the Authorized Institution with the Central Bank sufficient funds to meet the debt.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 61.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Location of places of business.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Unless specified in its licence, an Authorized Institution which:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
opens a new place of business; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 changes the location of a place of business; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 closes a place of business,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
without the prior approval of the Central Bank is guilty of an offence.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution incorporated in Papua New Guinea, which opens a new branch, agency or office or subsidiary outside the country without the approval of the Central Bank, is guilty of an offence.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 62.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 False statements as to status.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 No person other than an Authorized Institution or a person specified in Section 63(5) shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
describe themselves as being an Authorized Institution, or authorized as a bank or as a licensed financial institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 hold themselves out as to indicate or to be reasonably understood to indicate that they are authorized or licensed under this Act.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 No person shall falsely state, or do anything which falsely indicates, that they are entit
led although not an Authorized Institution to accept a deposit in the course of carrying on a business which for the purposes of this Act is banking business, unless that person is exempted under Section 8 and then only to the extent of that exemption.

\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 63.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Restriction on the use of the word \'93bank\'94.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subject to this section and to Section 65, a person shall not, without the consent of the Central Bank:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 use the word \'93bank\'94
 or any of its derivatives, or any other word indicating the transaction of banking business (whether in the English language or in any other language), in the name, description or title under which that person carries on business in the country; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 make any representation that he is, or hold himself out to be, a bank.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A licensed financial institution may seek the prior written consent of the Central Bank to use the description \'93merchant bank\'94
 and its derivatives with respect to its corporate finance activities but shall not use the description in connection with its other activities.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Subsection (1) does not apply to an association of banks or of bank employees formed to promote their respective mutual interests and not purporting to carry on banking business.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may at any time:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 impose conditions or add
itional conditions on a consent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 vary or revoke such conditions on a consent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 revoke a consent.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subsection (1) does not apply to the Central Bank, the Rural Development Bank, a bank or any other person or class of persons determined by th
e Central Bank from time to time.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 64.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Restriction on use of certain words and expressions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Except with the consent in writing of the Central Bank, no Authorized Institution may use the expression \'93Central\'94, \'93National\'94, \'93Papua\'94, \'93
New Guinea\'94, \'93Papua and New Guinea\'94, \'93Papua New Guinea\'94, \'93Reserve\'94 or \'93State\'94
, or an expression of a similar meaning (whether in the English language or in any other language), in the name, description or title under which it carries on business in the country.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subsection (1) does not affect the operation of the Rural Development Bank Act (Chapter 139) or the Central Banking Act 2000.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where the Central Bank for any reason considers that the use of a name or description by an Authorized Institution carrying on bus
iness in the country is undesirable or misleading, the Central Bank may prohibit the use of that name or description by an Authorized Institution by notice in the National Gazette.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where a person applies for authorization under this Act it shall give n
otice to the Central Bank of any name it is using or proposes to use for the purposes of or in connection with any business carried on by it for the Central Bank\rquote s consent.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Any person that uses an expression, name or description in contravention of Sub
section (1), or of a notice under Subsection (3), is guilty of an offence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
It is a defence to a charge of an offence against Subsection (1) where the Authorized Institution proves that it had not had a reasonable opportunity of taking whatever steps we
re necessary to change its name or abandon the use of the expression, name or description.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may at any time:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
impose conditions or additional conditions on a consent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 vary or revoke such conditions on a consent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 revoke a consent.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 65.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Restriction on establishment or maintenance of representative offices of overseas banks.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person, other than an Authorized Institution, is guilty of an offence where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the person carries on banking business in a foreign country; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the person establishes or maintains an office in Papua New Guinea wholly or partly in connection with the carrying on of that business outside the country; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank did not consent, in writing, to the establishment or maintenance of that office.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may, at any time, by notice in writing served on the person referred to in Subsection (1):
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
impose conditions, or additional conditions, on a consent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 vary or revoke conditions imposed on a consent; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 revoke a consent.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution is guilty of an offence where it undertakes any of the following, except to the extent there is in force any order under Section 61 permitting the undertaking:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
opens or establishes, whether on its own account or in conjunction with others, a branch or representative office;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 incorporates or establishes an interest in any business, whether on its own account or in conjunction with others.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person is guilty of an offence where the person has been given a consent under this Section and the person contravenes a condition to which the consent is subject.

\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 66.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Restructuring of Authorized Institutions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 It is an offence where:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 an Authorized Institution:

\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (i)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 enters into an arrangement or agreement for:
\par }\pard\plain \ltrpar\s114\qj \fi-720\li2880\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2880\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs115\caps\fs24\insrsid4411461 (A)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 any sale or disposal of its business or a material part of it by amalgamation or otherwise; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs115\caps\fs24\insrsid4411461 (B)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the carrying on of business in partnership with another person; or
\par }\pard\plain \ltrpar\s110\qj \fi-720\li2160\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin2160\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs111\fs24\insrsid4411461 (ii)\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 effects a reconstruction of the Authorized Institution; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the Central Bank 
did not give prior consent in writing.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Any arrangement, agreement or reconstruction referred to in Subsection (1), and any such sale or disposal or acquisition in pursuance of any such arrangement or agreement, entered into:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 without the prior writt
en consent of the Central Bank; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 that is not in accordance with any condition attached to such consent,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
is void and of no effect.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The Central Bank may withhold its consent unless the Authorized Institution satisfies the Central Bank that the arra
ngement agreement or reconstruction would not be contrary to the interests of depositors.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 67.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Unclaimed moneys.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In this Section:
\par }\pard\plain \ltrpar\s46\qj \fi-734\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs45\b\fs24\insrsid4411461 \'93authorized officer\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  means the Departmental Head or an officer of the Department authorized by him to act under this section;
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93unclaimed money\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
 means all principal, interest, dividends, bonuses, profits and sums of money legally payable by an Authorized Institution but in respect of which the time for the taking of proceedings for recovery has expired, and includes moneys to t
he credit of an account (other than an account in the name of an infant) that has not been operated on by deposit or withdrawal period for a period of not less than seven years.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 For the purposes of the definition of \'93unclaimed money\'94 in Subsection (1),
 the debiting to an account of a fee for keeping the account is not a withdrawal, and the crediting to an account (other than a savings bank or passbook account) of interest payable by a bank on the account is not a deposit.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Each Authorized Institution
 shall, within three months after 31 December in each year, deliver to the Governor a statement of all unclaimed money in its hands as at that 31 December.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (4) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A statement under Subsection (3) specify:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the name, and the last-known address, of each person to whom an amount of unclaimed money is payable, or the owner of each account, as the case may be; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the office or branch of the Authorized Institution at which the last transaction took place, and the date of the transaction; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where the person concerned is known to the Authorized Institution to be dead, the names and addresses, so far as they are known to the Authorized Institution, of his legal representatives.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (5) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The total amount shown in a statement under Subsection (3) shall:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
be paid by the Authorized Institution to the State at the time of the delivery of the statement; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 be credited to the Unclaimed Money Fund kept under the Unclaimed Moneys Act (Chapter 326); and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 subject to Subsection (7), be paid into the Consolidated Revenue Fund after payment to the State.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (6) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Subject to Subsection (7), on payment to the State of an amount of unclaimed money under this section an Authorized Institution is discharged from further
 liability in respect of that amount.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (7) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where an amount of unclaimed money has been paid to the State underthis section and the Governor or an authorized officer is satisfied that, but for Subsection (6) a person would be paid that amount by the bank by 
which it was paid to the State (or, where that Authorized Institution is no longer carrying on banking business, by an Authorized Institution to which that business of that first-mentioned Authorized Institution has been sold or disposed of), the amount s
hall be paid to the Authorized Institution and the Authorized Institution must then pay it to him, and the Public Account is, to the necessary extent, appropriated for the purposes of any payment under Subsection (7).
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (8) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution that contravenes or fails to comply with this section is guilty of an offence.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (9) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank or an Authorized Institution may apply to the National Court for a declaration that any moneys are not unclaimed moneys within the meaning of this section.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 68.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Powers about money of depositors who have died.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Where a depositor of an Authorized Institution dies, the Authorized Institution may apply an amount not exceeding K500.00 (or such other amount prescribed by regulation) held by the Authorized Institution that
 was deposited or paid up by the deceased person:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in payment of the deceased person\rquote s funeral expenses or debts; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 in payment to the executor of the deceased person\rquote s will; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 in payment to anyone else who is, in the Authorized Institution\rquote s opinion, entitled to the amount,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
having regard to the laws of probate or accepted customary practice for the administration of deceased estates, the amount may be applied without production of probate, of the will or letters of administration of the estate.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 No action lies against an Authorized Institution for acting, or failing to act, under Subsection (1).
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 69.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Non-business days.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In this Section, }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs45\b\fs24\insrsid4411461 \'93Authorized Institution\'94}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461  includes the Central Bank.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where in the opinion of the Central Bank it is in the public interest that:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Authorized Institutions; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a particular Authorized Institution; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a particular branch of an Authorized Institution,
\par }\pard\plain \ltrpar\s78\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
should remain closed on a day that is not a public holiday the Central Bank may, by notice in the N
ational Gazette, declare that day to be a non-business day for Authorized Institutions, or for the particular Authorized Institution, or for the particular branch, as the case may be, and every Authorized Institution, or the particular Authorized Institut
ion, or the particular branch, as the case may be, shall remain closed on that day.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution is not compellable to make a payment or to do any other act on a day that is a non-business day in relation to it by virtue of 
Subsection (2), or at a branch on a day that is a non-business day in relation to the branch by virtue of that Subsection, and any obligation otherwise to make a payment or do any act on such a day shall be deemed to be an obligation to make the payment o
r do the act on the next day that is not a public holiday or such a day.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 70.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Annual report.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 The annual report required to be delivered by the Central Bank to the Minister pursuant to the Central Banking Act 2000 shall include an account of policies pursued 
with respect to the discharge of its functions under this Act and details to any changes to policies which were adopted since the previous report.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 71.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Depositor priority.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (1) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where an Authorized Institution becomes unable to meet 
its obligations or suspends payment, the assets of the Authorized Institution are available to meet that Authorized Institution\rquote 
s liability to individual depositors up to a maximum of K10,000.00 in each case (or such other amount prescribed by regulations) and in priority to all other liabilities of the Authorized Institution.
\par }\pard\plain \ltrpar\s112\qj \fi720\li0\ri0\sa120\widctlpar\tx1170\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs113\fs24\insrsid4411461 (2) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
For the purposes of this section, to the extent assets are insufficient to meet the liabilities of those depositors they shall rank with respect to each class of depositors specified in Subsection (1), pro rata.
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs113\fs24\insrsid4411461 (3) }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The priorities specified in this section apply despite any law to the contrary in Papua New Guinea or any other place in which the Authorized Institution is incorporated or constituted.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 72.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Central Bank to furnish information to the Minister.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Where the Central Bank is required by this Act to publish a notice in the National Gazette the Central Bank shall do so as soon as practicable, and at the same time furnish a copy of the notice to the Minister.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 73.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Date of coming into operation of prudential standard.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 A:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 prudential standard; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any consent or refusal; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 any other notice or determination,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
under this Act by the Central Bank comes into operation:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
unless Paragraph (e) applies, on the day on which the relevant prudential standard, consent, refusal, notice or determination is made; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 e}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 where the prudential standard, consent, refusal, notice or determination specifies a later day as the day on which it is to come into force, on the day so specified,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
and continues in force until it is revoked.
\par }\pard\plain \ltrpar\s85\qc \li0\ri0\sb120\keepn\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs84\fs24\insrsid4411461 PART XI. \endash  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 REPEAL, AMENDMENT, SAVING AND TRANSITIONAL PROVISIONS.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 74.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Repeal and amendment of Acts.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Subject to this Part:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 the }{\rtlch\fcs1 
\ai\af40\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid4411461 Banks and Financial Institutions Act}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  (Chapter 137) is hereby repealed; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the }{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid4411461 Securities Act 1997}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  is amended in Section 1 in Paragraph (f)(iii) of the definition of \'93
debt securities\'94, by adding after the word \'93bank\'94 the following:\endash 
\par }\pard\plain \ltrpar\s75\qj \li2977\ri0\sa240\widctlpar\wrapdefault\nooverflow\faroman\rin0\lin2977\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \'93or licensed financial institution\'94; and
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Section 104 of the }{
\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs103\i\fs24\insrsid4411461 Central Banking Act 2000}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  is hereby repealed.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 75.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Saving of regulations.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Regulations made under the former Act, to the extent that they:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
were in operation immediately before the coming into operation of this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 are not inconsistent with this Act,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
are, on that coming into operation, saved and continue in operation as if they were regulations made under this Act and may be amended or repealed.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 76.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Saving of licences, etc.,.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 All licences, instruments, authorities, approvals, permits and directions made under the former Act, to the extent that they:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
were in operation immediately before the coming into operation of this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 are not inconsistent with this Act,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
are, on that coming into operation saved and continue in operation as if they were licences, instruments, authorities, approvals, permits and directions made under this Act until they expire or are otherwise terminated according to law.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 77.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 References to former Act, etc.,.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 A reference in any law or in any instrument made under or in rela
tion to the former Act or a provision of the former Act shall, on and after the coming into operation of this Act, unless the context otherwise requires, be read and construed as a reference to this Act or to the corresponding provision of this Act.

\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 78.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Actions not to abate.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Where immediately before the coming into operation of this Act, any action, arbitration or proceeding was pending or existing by or against a person or body under the former Act, it:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
does not, on the commencement of this Act, abate or discontinue or in any way be affected by a provision of this Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 may be prosecuted, continued and enforced by, against or in favour of the person or body as if this Act had not been made.
\par }\pard\plain \ltrpar\s58\qj \fi-720\li720\ri0\sb240\sa120\keepn\widctlpar\wrapdefault\faauto\rin0\lin720\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \cs102\caps\fs24\insrsid4411461 79.\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \caps\fs24\insrsid4411461 Difficulties with saving or transitional provisions.
\par }\pard\plain \ltrpar\s91\qj \fi720\li0\ri0\sa120\widctlpar\tx720\tx1166\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Where a difficulty arises in respect of the saving or transitional provisions in this Part, the Head of State, acting on advice, may, by regulation:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
make such modifications to those provisions as may appear necessary during the transition to the provisions of this Act from the provisions of the former Act; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 make such incidental, consequential and supplementary provisions as may be necessary or expedient for the purpose of giving full effect to those transitional provisions,
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
and any such modifica
tions or provisions made by the Head of State, acting on advice, have and are deemed always to have had the same force and effect as if they had been enacted by way of an amendment to this Act, and on publication of the Regulation in the National Gazette,
 this Part is amended accordingly.
\par }\pard\plain \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \sect 
}\sectd \ltrsect\binfsxn2\binsxn2\linex0\headery1000\footery1000\endnhere\sectdefaultcl\sftnbj {\headerl \ltrpar \ltrrow\trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft-720\trkeep\trftsWidth1\tblind-720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx720\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640
\pard\plain \ltrpar\s59\qj \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\field{\*\fldinst {\rtlch\fcs1 
\ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  IF }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  STYLEREF "Schedule No" \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 5}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  > 0   "Sch. }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\insrsid4411461 STYLEREF "Schedule No" \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 5}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 
\ltrch\fcs0 \b\fs24\insrsid4411461 " "" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 Sch. 5}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \af40\afs24 
\ltrch\fcs0 \fs24\insrsid4411461 \cell }\pard \ltrpar\s59\qc \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\fs24\insrsid4411461 Banks and Financial Institutions 2000}{\rtlch\fcs1 
\af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \cell }\pard\plain \ltrpar\ql \li0\ri0\sa160\sl259\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 
\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft-720\trkeep\trftsWidth1\tblind-720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl
\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx720\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640\row 
}\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\par }}{\headerr \ltrpar \ltrrow\trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft720\trkeep\trftsWidth1\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil 
\cellx8640\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx10080\pard\plain \ltrpar\s59\qc \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 
\rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \i\fs24\insrsid4411461 Banks and Financial Institutions 2000}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \cell }\pard \ltrpar\s59\qr \li0\ri0\widctlpar\intbl\tqc\tx4153\tqr\tx8306\wrapdefault\faauto\rin0\lin0 {\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  IF }{\field{\*\fldinst {\rtlch\fcs1 
\ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  STYLEREF "Schedule No" \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\lang1024\langfe1024\noproof\insrsid10701175 6}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {
\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461  > 0   "Sch. }{\field{\*\fldinst {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 STYLEREF "Schedule No" \\* MERGEFORMAT }}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 6}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \b\fs24\insrsid4411461 " "" \\* MERGEFORMAT}}{\fldrslt {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\b\fs24\lang1024\langfe1024\noproof\insrsid10701175 Sch. 6}}}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \cell }\pard\plain \ltrpar\ql \li0\ri0\sa160\sl259\slmult1
\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\trowd \irow0\irowband0\lastrow \ltrrow\ts11\trleft720\trkeep\trftsWidth1\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640\clvertalt\clbrdrt
\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1440\clshdrawnil \cellx10080\row }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 
\par }}\pard\plain \ltrpar\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 SCHEDULE }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs100\fs24\insrsid4411461 1}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  \endash  Application Requirements for Authorization.
\par }\pard\plain \ltrpar\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Sections 10 and 13.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 1.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The applicant\rquote s plan of operations and its means of implementing it including its plans for operating a branch network throughout Papua New Guinea.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 2.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 The names and curriculum vitae of the applicant\rquote 
s shareholder controllers, indirect controllers, directors, chief executives and managers.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 3.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Particulars of the applicant\rquote s arrangements for the management of the business.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 4.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A copy of the Act, charter, deed of settlement, constitution of the body corporate, or other document by which the body corporate is or is to be constituted.
\par }\pard\plain \ltrpar\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 SCHEDULE }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs100\fs24\insrsid4411461 2}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  \endash  Criteria for authorization.
\par }\pard\plain \ltrpar\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Section 13.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 1 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Directors, Chief Executives and Managers Must Be Fit and Proper Persons.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 1.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Every person who is, or is to be, a director or chief executive of an Authorized Institution must be a fit
 and proper person to hold the particular position which he holds or is to hold.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 2.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 In determining whether a person is a fit and proper person to hold any particular position, regard shall be had to:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 his probity;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 his competence and soundness of judgement for fulfilling the responsibilities of that position;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the diligence with which he is fulfilling or likely to fulfill those responsibilities; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 whether the interests of depositors of the Authorized Institution or proposed Authorized Institution are, or are likely to be, in any way threatened by his holding that position.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 3.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Without prejudice to the generality of the foregoing provisions, regard may be had to the previous conduct and activities in business or financial matters of the person in question and, in particular, to any evidence that he has:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
committed an offence involving fraud or other dishonesty or violence; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 been engaged in or been associated with any financial loss due to dishonesty, incompetence or malpractice in the 
provision of banking business, insurance, investment or other financial services or the management of companies or against financial loss due to the conduct of discharged or undischarged bankrupts; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 been engaged in any business practices appearing to the Central Bank to be deceitful or oppressive or otherwise improper (whether unlawful or not) or which otherwise reflect discredit on his method of conducting banking business; or

\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 d}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 engaged in or been associated with any other business practices or otherwise conducted himself in such a way as to cast doubt on his competence and soundness of judgement.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 2 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 >Business to be Conducted in a Prudent Manner.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 4.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Every Authorized Institution must or, as the case may be, will conduct its business in a prudent manner.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 5.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution shall not be regarded as conducting its business in a prudent manner unless it maintains or, as the case may be, will mai
ntain capital resources of such nature and amount as are considered appropriate by the Central Bank, and which are sufficient to safeguard the interests of its depositors, and commensurate with the nature, scale and risks of the Institution\rquote 
s operations and the operations of any other body corporate in the same group capable of affecting the Institution, as determined by the Central Bank.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 6.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution shall not be regarded as conducting its business in a prudent manner unless it maintains o
r, as the case may be, will maintain adequate liquidity, having regard to the relationship between its actual and contingent liabilities, to the times at which those liabilities will or may fall due and its assets mature, and to any other factors appearin
g to the Central Bank to be relevant.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 7.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
For the purposes of Section 3 above the Central Bank may, to such extent as it thinks appropriate, take into account as assets of the Authorized Institution any facilities available to it which are capable of provid
ing liquidity within a reasonable period.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 8.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution shall not be regarded as conducting its business in a prudent manner unless it makes or, as the case may be, will make adequate provisions for depreciation or diminution in the value o
f its assets (including provisions for bad or doubtful debts), for liabilities which will or may fall to be discharged by it and for losses which it will or may incur.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 9.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution will not be regarded as conducting its business in a prude
nt manner unless it limits or, as the case may be, proposes to limit, its exposure, direct and indirect, to the risk of loss, as may be defined by the Central Bank, to any person and such limit shall be no more than shall be prescribed by the Central Bank
.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 10.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution will not be regarded as conducting its business in a prudent manner unless it limits or, as the case may be, proposes to limit, its exposure, direct and indirect, to risk of loss to persons who are related to the Authorized 
Institution in such a manner that they may be in a position to influence the Authorized Institution, and such risk and such relationship may be defined by the Central Bank, and such limit shall be no more than shall be prescribed by the Central Bank.

\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 11.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
For the purposes of determining the amount of the risk of loss to the person referred to in Sectionss 9 and 10, account must also be taken of any exposure to the risk of loss to any other person, where the financial soundness of the first person may be li
nked to that of the other, as may be further prescribed by the Central Bank.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 12.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
An Authorized Institution shall not be regarded as conducting its business in a prudent manner unless it maintains or, as the case may be, will maintain adequate accounting an
d other records of its business and adequate systems of control of its business and records.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 13.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Those records and systems shall not be regarded as adequate unless they are such as to enable the business of the Authorized Institution to be prudently manag
ed and the Authorized Institution to comply with the duties imposed on it by or under this Act and in determining whether those systems are adequate the Central Bank shall have regard to the functions and responsibilities in respect of them of any of the 
directors of the Authorized Institution.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 3 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Integrity and Skill.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 14.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The business of the Authorized Institution must be carried on with integrity and the professional skills appropriate to the nature, scale and risks inherent in its activities.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 4 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Applicants Incorporated Outside Papua New Guinea.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 15.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Without limiting the circumstances in which the Central Bank may refuse an application by a body corporate to become a Authorized Institution, the Central Bank in the case of a body corporate which
 is not incorporated in Papua New Guinea may allow the application to proceed if:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
the relevant supervisory authority in that place informs the Central Bank that it is satisfied with respect to the prudent management and overall financial soundness of the body corporate and any group of which it is a member; and
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 the Central Bank is satisfied as to the nature and scope of the supervision exercised by that authority.
\par }\pard\plain \ltrpar\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 SCHEDULE }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs100\fs24\insrsid4411461 3}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  \endash  Minimum capital.
\par }\pard\plain \ltrpar\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Section 12.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sb480\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 For the purposes of Section 12 of the Act, the prescribed minimum net assets is:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
in the case of a bank - K15,000,000.00;
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 in the case of a licensed financial institution - K1,500,000.00.
\par }\pard\plain \ltrpar\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 SCHEDULE }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs100\fs24\insrsid4411461 4}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  \endash  Provision of information.
\par }\pard\plain \ltrpar\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Section 28.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 1 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Lodgement of Returns.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 1.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Not later than six m
onths after the end of its financial year, every Authorized Institution must submit to the Central Bank its audited financial statements together with such other information as may be prescribed by this Act or requested by the Central Bank from time to ti
me.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 2.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The financial statements and any other information required by the Central Bank must be supplied despite anything to the contrary contained in any law including the Companies Act 1997.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 3.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution shall publish its financial statem
ents and make them available to the public together with such other information referred to in Section 1.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 2 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Notification of Change of Directors, Chief Executives, Managers and Auditors.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 4.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 An Authorized Institution must give written notice to the C
entral Bank if any person has become or ceased to be a director, a chief executive, manager or auditor of the Authorized Institution.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 5.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A notice required to be given under paragraph 4 above must be given before the end of the period of 14 days beginning 
with the day on which the Authorized Institution becomes aware of the relevant facts.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 6.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
The Central Bank may by a notice in writing wholly or partly dispense from the obligation imposed by Section 5 for any Authorized Institution whose principal place of business is outside Papua New Guinea.
\par }\pard\plain \ltrpar\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 SCHEDULE }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs100\fs24\insrsid4411461 5}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  \endash  Penalties for offences against this Act.
\par }\pard\plain \ltrpar\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Section 54.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 1 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Sections which carry a Fine Not Exceeding K100,000.00 or Imprisonment For a Term Not Exceeding Two Years, or Both.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sb480\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Section 14 - Conditions on Licence.
\par }\pard \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Section 25 - Contraventions by shareholder controllers and indirect controllers.
\par Section 28 - Central Bank to be Supplied with certain documents.
\par Section 29 - Power to obtain information and require production of documents.
\par Section 30 - Right of Entry to obtain information and documents.
\par Section 35 - Duty to give information about Authorized Institutions.
\par Section 38 - Powers and functions of statutory managers.
\par Section 50 - Advertisements.
\par Section 52 - Secrecy.
\par Section 53 - Power to make regulations.
\par Section 61 - Location of Places of Business.
\par Section 62 - False statements as to status.
\par Section 64 - Restriction on use of certain words and expressions.
\par Section 65 - Restriction on establishment or maintenance of representative offices of overseas banks.
\par Section 66 - Restructuring of Authorized Institutions.
\par Section 67 - Unclaimed Moneys.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 2 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 Sections which carry a Fine Not Exceeding K500,000.00 or Imprisonment For a Term Not Exceeding Ten Years, or Both.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sb480\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Section 7 - Only authorized or exempt persons to carry on banking business.
\par }\pard \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Section 8 - Exemptions.
\par Section 31 - Investigations on behalf of the Central Bank.
\par Section 32 - Investigations of suspected contraventions of this Act.
\par Section 33 - Obstruction of investigations.
\par Section 34 - False and misleading information.
\par Section 51 - False or misleading inducement to make a deposit.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 3 \endash  }{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 General Penalty.
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 1.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 A person who contravenes any provision of this Act is guilty of an offence.
\par }{\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 \cs34\b\fs24\insrsid4411461 2.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
A person who commits an offence against this Act for which there is no specific penalty provided, is liable to a penalty of:
\par }\pard\plain \ltrpar\s81\qj \fi-720\li1440\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin1440\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 a}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
a fine not exceeding K500,000.00; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 b}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 a term of imprisonment not exceeding 5 years; or
\par }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 (}{\rtlch\fcs1 \ai\af40\afs24 \ltrch\fcs0 \cs82\i\fs24\insrsid4411461 c}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs82\fs24\insrsid4411461 )\tab }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 both a fine not exceeding the amount specified in Paragraph (2)(a) and a term of imprisonment not exceeding the term specified in Paragraph (b).
\par }\pard\plain \ltrpar\s76\qj \li0\ri0\sa120\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \ab\af40\afs24 \ltrch\fcs0 
\cs34\b\fs24\insrsid4411461 3.  }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Where an offence against this Act is of a continuing nature, a person who is found guilty of that continuing offence is liable to a further 
default penalty of a fine, in addition to that prescribed in Section 2, not exceeding K5,000.00 per day for each day after conviction that the person continues to commit the offence.
\par }\pard\plain \ltrpar\s99\qc \li0\ri0\sb240\pagebb\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs26\alang1025 \ltrch\fcs0 \b\caps\f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 SCHEDULE }{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \cs100\fs24\insrsid4411461 6}{\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461  \endash  Prescribed fees.
\par }\pard\plain \ltrpar\s101\qr \li0\ri0\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Sections 10 and 60.
\par }\pard\plain \ltrpar\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 
\cs84\insrsid4411461 PART 1}{\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 .
\par \ltrrow}\trowd \irow0\irowband0\ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4400\clshdrawnil \cellx6000\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1600\clshdrawnil \cellx7600\pard\plain \ltrpar
\s120\qj \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 Application Fee
 for Licensed Financial Institution\cell }\pard \ltrpar\s120\qr \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K15,000.00\cell }\pard\plain \ltrpar\ql \li0\ri0\sa160\sl259\slmult1
\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\trowd \irow0\irowband0\ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4400\clshdrawnil \cellx6000\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1600\clshdrawnil \cellx7600\row \ltrrow}\pard\plain \ltrpar
\s120\qj \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
Application Fee for a Bank\cell }\pard \ltrpar\s120\qr \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K25,000.00\cell }\pard\plain \ltrpar\ql \li0\ri0\sa160\sl259\slmult1
\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 
\trowd \irow1\irowband1\lastrow \ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4400\clshdrawnil \cellx6000\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1600\clshdrawnil \cellx7600\row }\pard\plain \ltrpar
\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 \cs84\insrsid4411461 PART 2}{
\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 .
\par \ltrrow}\pard\plain \ltrpar\s120\qj \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Licence Fees for Bank\cell }\pard \ltrpar\s120\qr \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K25,000.00\cell }\pard\plain \ltrpar
\ql \li0\ri0\sa160\sl259\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \trowd \irow0\irowband0\lastrow \ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4400\clshdrawnil \cellx6000\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1600\clshdrawnil \cellx7600\row }\pard\plain \ltrpar
\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 \cs84\insrsid4411461 PART 3}{
\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 .
\par \ltrrow}\pard\plain \ltrpar\s120\qj \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Licence Fees for Bank\cell }\pard \ltrpar\s120\qr \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K25,000.00\cell }\pard\plain \ltrpar
\ql \li0\ri0\sa160\sl259\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \trowd \irow0\irowband0\lastrow \ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4400\clshdrawnil \cellx6000\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1600\clshdrawnil \cellx7600\row }\pard\plain \ltrpar
\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 \cs84\insrsid4411461 PART 4}{
\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 .
\par \ltrrow}\pard\plain \ltrpar\s120\qj \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Renewal Licence Fees for Bank\cell }\pard \ltrpar\s120\qr \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K25,000.00\cell }\pard\plain \ltrpar
\ql \li0\ri0\sa160\sl259\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 \trowd \irow0\irowband0\lastrow \ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone 
\cltxlrtb\clftsWidth3\clwWidth4400\clshdrawnil \cellx6000\clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth1600\clshdrawnil \cellx7600\row }\pard\plain \ltrpar
\s86\qc \li0\ri0\sb240\keepn\widctlpar\wrapdefault\faauto\rin0\lin0\itap0 \rtlch\fcs1 \ab\af40\afs22\alang1025 \ltrch\fcs0 \b\caps\f40\fs22\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40 \ltrch\fcs0 \cs84\insrsid4411461 PART 4}{
\rtlch\fcs1 \af40 \ltrch\fcs0 \insrsid4411461 .
\par \ltrrow}\pard\plain \ltrpar\s120\qj \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 
\fs24\insrsid4411461 Renewal Licence Fees for Licensed Financial Institutions\cell }\pard \ltrpar\s120\qr \li0\ri0\sa120\widctlpar\intbl\wrapdefault\faauto\rin0\lin0 {\rtlch\fcs1 \af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 K15,000.00\cell 
}\pard\plain \ltrpar\ql \li0\ri0\sa160\sl259\slmult1\widctlpar\intbl\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0 \rtlch\fcs1 \af40\afs26\alang1025 \ltrch\fcs0 \f40\fs26\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 
\af40\afs24 \ltrch\fcs0 \fs24\insrsid4411461 \trowd \irow0\irowband0\ltrrow\ts11\trgaph108\trleft1600\trkeep\trftsWidth1\trpaddl108\trpaddr108\trpaddfl3\trpaddfr3\tblind1708\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone 
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}\trowd \irow0\irowband0\ltrrow\ts11\trleft720\trkeep\trftsWidth1\tblind720\tblindtype3 \clvertalt\clbrdrt\brdrnone \clbrdrl\brdrnone \clbrdrb\brdrnone \clbrdrr\brdrnone \cltxlrtb\clftsWidth3\clwWidth7920\clshdrawnil \cellx8640\pard \ltrpar
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