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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 12 July 1989 - onwards

96. Report of non-compliance to Minister.

Where the Bank -

(a) is satisfied that a financial institution to which this Chapter applies is not complying with any obligation imposed on it by or under this Chapter (including any rule of a self-regulatory body of which the institution is a member), and

(b) is of the opinion that the nature of the non-compliance is such that it requires notification to the Minister,

then the Bank shall notify the Minister of that non-compliance.