Clause
7
Amendment Proposed
such letter of comfort shall be deemed
at all times to have been accepted under
paragraph (bb) of the proviso to subsection
1) and, until such time as the Commissioner
exercises his powers under subsection (6)
in relation to the bank, the provisions of
paragraphs (a) and (b) of subsection (3)
shall not apply in relation thereto.
(6) The Commissioner may at any time,
by notice to a bank, the liabilities of
which are assured by a letter of comfort
accepted by the Commissioner under
subsection (2), or deemed to have been
accepted by him under subsection (5) -
(a) where any limit has been specified
for the purposes of paragraph (a)
of subsection (3) or any
requirement imposed under
paragraph (b) of that subsection,
specify a new limit or vary such
a requirement; but he shall not
impose a more restrictive limit
unless he is of the opinion that -
(i) the bank has failed to
comply with such limit or
requirement; or
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