(1) The Central Bank may give a direction to the trustees of a trustee savings bank in relation to the information which shall be included in any advertisement published by or on behalf of them or the bank or in any public statement made by or on behalf of them or the bank.
(2) The Central Bank may give a direction to the trustees of a trustee savings bank to refrain, or cause the bank to refrain, during such period as shall be specified in the direction -
(a) from publishing or continuing to publish an advertisement inviting deposits from the public payable on demand or on notice or at a fixed or determinable future date, or
(b) from inviting or continuing to invite such deposits as aforesaid.
(3) The Central Bank shall not give a direction under this section unless it is satisfied that it is desirable to do so in the interest of the orderly and proper regulation of banking.
(4) A person who fails or refuses to comply with a direction under this section shall be guilty of an offence.