1987 Ed.]
Banking
[CAP. 155
51
(2) The Commissioner may require any authorized institution which has submitted to him information pursuant to subsection (1) to submit to him such further information as he may consider necessary to obtain, in the interests of depositors of the institution, about the assets, liabilities and transactions of any such company.
(3) Information that is required to be submitted under this section shall be submitted within such period and in such manner as the Commissioner may require.
(4) Every director and every manager of an authorized institution which fails without reasonable excuse to comply with any requirement under this section commits an offence and is liable—
(a) on conviction upon indictment to a fine of $200,000 and to imprisonment for 2 years and, in the case of a continuing offence, to a further fine of $10,000 for every day during which the offence continues; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6 months and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
(5) Any person who signs any document for the purposes of this section which he knows or reasonably ought to know to be false in a material particular commits an offence and is liable-
(a) on conviction upon indictment to a fine of $500,000 and to imprisonment for 2 years; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6 months.
(6) If an authorized institution produces any book, account, document, security or information under this section which is false in a material particular, every director and every manager of the institution commits an offence and is liable-
(a) on conviction upon indictment to a fine of $500,000 and to imprisonment for 2 years; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6 months.
65. (1) An authorized institution, within 30 days after the making of any alteration to the memorandum of association, articles of association or other instrument under which it is incorporated, shall furnish to the Commissioner particulars of such alteration in writing, verified by a director of the institution.
(2) Every director and every manager of an authorized institution which contravenes this section commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $50,000 and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
Alteration in constitution.