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Actions required for under capitalised licensed financial institutions, or 87. affiliates (1) Where a licensed financial institution or affiliate fails to comply with any or all of the capital requirements under this Act or prudential standards issued by the Central Bank, the Central Bank shall take any of the following actions: require the licensed financial institution, or affiliate to present a plan that is satisfactory to the Central Bank to reconstitute its capital adequacy ratio within thirty days or a longer period as may be determined by the Central Bank; (c) prohibit the licensed financial institution, or affiliate from awarding any bonuses, or increments in the salary, emoluments and other benefits of all directors and officers. (2) Where a licensed financial institution or affiliate is required by the Central Bank to submit a capital restoration plan under subsection (1), and it fails, refuses or neglects to comply or to implement the capital restoration plan, the Central Bank shall take any of the following measures: prohibit the licensed financial institution or affiliate from opening new branches or acquiring or establishing new subsidiaries; restrict the licensed financial institution or affiliate from engaging in new business; (c) impose restrictions on growth of assets or liabilities of the licensed financial institution or affiliate as it shall consider fit; (d) restrict the rate of interest on savings and time deposits payable by the licensed financial institution to the rates as the Central Bank shall determine; (e) remove officers of the licensed financial institution or affiliate (b) (a) the actions specified in section 86; (b) (a)

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