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subsection (2) of section 75 shall be deemed to take effect from the date specified.

Suspension of persons charged with criminal offence etc… 82. If any person referred to in sections 77 and 78 is charged with a criminal offence involving dishonesty or breach of trust and his continued service or participation in the licensed financial institution or affiliate: (a) poses, or may pose a threat to the interests of the depositors; or (b) threatens, or may threaten to impair public confidence in the licensed financial institution or affiliate, the Central Bank may issue an order temporarily suspending the person from his position in the licensed financial institution or affiliate and, if applicable, suspending the exercise of voting rights of shares in the licensed financial institution or affiliate by the person pending the determination of the criminal case. 83. A dismissal of the criminal case or decision of not guilty on the merits of the case against the person referred to in section 82 shall not preclude the Central Bank from taking any action with respect to a person authorised by this Act. 84. Where a person is convicted of a criminal offence, the Central Bank may permanently prohibit the person from serving in or engaging in banking business. Dismissal of criminal case not a bar to Central Bank action Persons convicted may be prohibited from banking business

85. (1)

Appointment of observer

Where any of the grounds for remedial action under section 75 exists and: (a) the Central Bank considers it necessary to stabilise the licensed financial institution or affiliate; or (b) a licensed financial institution or affiliate fails to comply with a measure under section 75,

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