22
22
CAP. 155]
Banking
[1987 Ed.
3/9039
Amendment of conditions of registration.
3/90 31
5/0
(4) The Governor in Council may, by notice in the Gazette, amend the amount of paid-up share capital specified in subsection (2)(a).
(5) The registration of a company under subsection (1) as a registered deposit-taking company shall be effected by entering in the register the relevant particulars specified in section 27 and the Commissioner shall notify the company in writing of the registration and date of registration.
(6) Where the Commissioner refuses to register a company under subsection (2), he shall notify the company in writing of the refusal.
(7) Any company aggrieved by the refusal of the Commissioner to register it under subsection (2), or by the imposition by him of conditions under subsection (1), may appeal to the Governor in Council against the refusal or the conditions but that refusal or, as the case may be, those conditions shall take effect immediately, notwithstanding that an appeal has been or may be made under this subsection.
(8) Every director and every manager of a deposit-taking company which contravenes any condition attached under subsection (1) to its registration commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000; or
(b) 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.
22. (1) Without limiting the generality of section 21(1), the Commissioner may at any time, by notice in writing served on a registered deposit-taking company, attach to the registration of the company such conditions, or amend or cancel any conditions attached to the registration, as he may think proper.
(2) Any company aggrieved by any conditions to which its registration is made subject by the Commissioner under subsection (1) may appeal against the conditions to the Governor in Council, but those conditions shall take effect immediately notwithstanding that an appeal has been or may be made under this subsection.
(3) Every director and every manager of a deposit-taking company which contravenes any condition attached under this section to its registration commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000; or
(b) 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.
22
22
CAP. 155]
Banking
[1987 Ed.
3/9039
Amendment of conditions of registration.
3/90 31
5/0
(4) The Governor in Council may, by notice in the Gazette, amend the amount of paid-up share capital specified in subsection. (2)(a).
(5) The registration of a company under subsection (1) as a registered deposit-taking company shall be effected by entering in the register the relevant particulars specified in section 27 and the Commissioner shall notify the company in writing of the registration and date of registration.
(6) Where the Commissioner refuses to register a company under subsection (2), he shall notify the company in writing of the refusal.
(7) Any company aggrieved by the refusal of the Commis- sioner to register it under subsection (2), or by the imposition by him of conditions under subsection (1), may appeal to the Governor in Council against the refusal or the conditions but that refusal or, as the case may be, those conditions shall take effect immediately, notwithstanding that an appeal has been or may be made under this subsection.
(8) Every director and every manager of a deposit-taking company which contravenes any condition attached under subsec- tion (1) to its registration commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000; or
(b) 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.
22. (1) Without limiting the generality of section 21(1), the Commissioner may at any time, by notice in writing served on a registered deposit-taking company, attach to the registration of the company such conditions, or amend or cancel any conditions attached to the registration, as he may think proper.
(2) Any company aggrieved by any conditions to which its registration is made subject by the Commissioner under subsection (1) may appeal against the conditions to the Governor in Council, but those conditions shall take effect immediately notwithstanding that an appeal has been or may be made under this subsection.
(3) Every director and every manager of a deposit-taking company which contravenes any condition attached under this section to its registration commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000; or
(b) 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.
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