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FRIDAY, AUGUST 5, 1983
(B) LIMITS ON VARIOUS FORMS OF LENDING
THE LIMITATIONS ON LENDING TO SINGLE CUSTOMERS OR
GROUPINGS ARE CLARIFIED, AND THE DEFINITION OF SUCH
LENDING IS EXTENDED SO THAT GUARANTEES GIVEN BY ONE
CUSTOMER, IN RESPECT OF LENDING TO ANOTHER, COUNT
TOWARDS THE LIMIT APPLICABLE TO THE FIRST CUSTOMER.
THERE IS A NEW DISCRETIONARY POWER FOR THE COMMISSIONER
TO LIMIT THE AMOUNT OF FUNDS PLACED BY A DTC WITH
A FOREIGN BANK. TIGHTER RESTRICTIONS ARE INTRODUCED ON LENDING TO DIRECTORS, THEIR RELATIVES AND ASSOCIATED ENTITIES: IN PARTICULAR, ALL SUCH LENDING BY REGISTERED DTCS IS TO BE PROHIBITED. AND THE LIMIT ON A REGISTERED
DTC'S HOLDINGS OF SHARES AND INTERESTS IN LAND IS
TIGHTENED.
(C) SECRECY AND INVESTIGATIONS
THE SECRECY PROVISIONS ARE RELAXED SO AS TO ALLOW THE
DISCLOSURE OF INFORMATION IN THE CIRCUMSTANCES OF
CRIMINAL INVESTIGATIONS OR PROCEEDINGS, OR TO THE FINANCIAL SECRETARY IF THE COMMISSIONER CONSIDERS THAT SUCH DISCLOSURE IS IN THE INTERESTS OF DEPOSITORS OR IN THE PUBLIC INTEREST. A NEW PROVISION ENABLES THE
FINANCIAL SECRETARY TO APPOINT AN INSPECTOR TO INVESTIGATE THE AFFAIRS OF A DTC OR FORMER DTC AND ITS RELATED COMPANIES, REQUIRING, AMONG OTHER THINGS, ALL THOSE WHETHER INSIDE OR OUTSIDE THE COMPANY BEING INVESTIGATED, WHO HAVE RELEVANT INFORMATION, TO ANSWER
QUESTIONS AND PROVIDE PAPERS.
/(D) AUDITORS