Banks Act, 1990 (Act No. 94 of 1990)

Regulations

Regulations relating to Banks

Chapter III : Corporate Governance

43. Public disclosure

Subregulation (2)(e) Nature and extent of risk exposures

Subregulation (3)

Purchase

(3)	Subject to such conditions as may be specified in writing by the Registrar, when a bank is controlled by—

(a)	a controlling company;

(b)	another bank; or

(c)	an institution which has been approved by the Registrar and which conducts business similar to the business of a bank in a country other than the Republic,

the requirements specified in subregulations (1) and (2) shall apply to such controlling company, bank or institution, as the case may be, on a consolidated basis, instead of to such bank that is so controlled, provided that control for the purposes of this subregulation (3) means control as defined in section 42(2) of the Act.

[Regulation 43(3) substituted by regulation 24(l) of Notice No. 297, GG 40002, dated 20 May 2016]