CRD Welcome Package

out the duties and functions of that office during the period for making representations specified in subsection (2), the Central Bank may make an order suspending the director or officer, and the suspension shall not extend beyond the period for making written representation. (4) Where the Central Bank decides to remove the director or officer the Central Bank shall, without delay, notify the director or officer and the licensed financial institution of the removal order or suspension order made under this section. Submission of returns and production of information as required by the 89. Central Bank (1) Every licensed financial institution shall furnish to the Central Bank at the time and in the manner the Central Bank may determine, information and data, on a solo or consolidated basis, as the Central Bank may require for the proper discharge of its functions and responsibilities. (2) For the purposes of determining compliance with this Act and any potential risks to a licensed financial institution from its membership in a corporate group, the Central Bank may require any affiliate of a licensed financial institution to furnish to the Central Bank information and data in the time and in the manner the Central Bank may determine. (5) The director or officer, as the case may be, ceases to hold office as of the date, the removal order is made, or any later date specified in the order.

(3) Without limiting the generality of subsection (1) every licensed financial institution shall, at the request of the Central Bank submit to the Central Bank in a form as the Central Bank determines:

67