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New Regulations

Published: Monday March 20th, 2006

Section 24 of the Banks and Trust Companies Regulation Act, 2000 empowers the Governor of the Central Bank to make regulations for all or any of the following purposes -

(a) to prescribe the information, particulars and references which may be prescribed under section 4(2) and Section 7(3);

(b) to establish fines not exceeding five thousand dollars for failure to comply with any regulation;

(c) generally for carrying out the purposes or provisions of this Act into effect.

Accordingly, the following regulations have been approved by Cabinet:

Banks and Trust Companies (Foreign Currency Position) Regulations, 2005 [S.I. No. 21 of 2005]

Banks and Trust Companies (Acquisition of Shares) Regulations, 2005 [S.I. No. 22 of 2005]

Banks and Trust Companies (Equity Investments) Regulations, 2005 [S.I. No. 23 of 2005]

Banks and Trust Companies (Payment of Dividends) Regulations, 2005 [S.I. No. 24 of 2005]

Banks and Trust Companies (New Appointments) Regulations, 2005 [S.I. No. 62 of 2005]

Banks and Trust Companies (Large Exposures) Regulations, 2006 [S.I. No. 3 of 2006]

Copies of these regulations may be viewed below. Official copies of the regulations should be obtained from the Government's Publications Office.

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