Clause
10 -
Amendment Proposed
(i) permit such advances or loans
included in computing such
aggregate to be outstanding until
the maturity thereof;
(ii) permit such facilities, guarantees
or liabilities so included to be
outstanding until they may lawfully
be terminated without penalty to
the bank:
Provided that, in either case, no
new advances, loans, facilities, guarantees
or liabilities which are to be included in
computing such aggregate are granted while
the limit is so exceeded.
(8) No letter of comfort accepted by
the Commissioner under subsection (2) or
deemed to be accepted under subsection (5)
in accordance with his powers under this
section shall authorize any advances, loans,
facilities, guarantees or liabilities which
exceed in aggregate any limitations on
such aggregate amount assured in the
letter of comfort.
(9) For the purposes of subsection (1)
a person shall be deemed to be in control
of a company