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Mutual Banks Act, 1993 (Act No. 124 of 1993)

Chapter II : Administration of Act

3. Delegation of powers and assignment of duties by Registrar

 

(1) The Registrar may with the approval of the Reserve Bank
(a) delegate to any officer or employee of the Reserve Bank any power conferred upon the Registrar by or under this Act; or
(b) authorise any such officer or employee to perform any duty assigned to the Registrar by or under this Act.

 

(2) Any delegation under subsection (1)(a) shall not prevent the exercise of the relevant power by the Authority.

[Section 3(2) substituted by section 290, item 4 in Schedule 4, of Act No. 9 of 2017 - effective 1 April 2018 (paragraph (h) of Notice 169 of 2018)]