Banking Act

Banking (Compoundable Offences) Regulations 2008

[GN 209 of 2008 – 10 November 2004] [Sections 99 and 101(1)(b)]

1. These regulations may be cited as the Banking (Compoundable Offences) Regulations 2008.

2. In these regulations –

"Act" means the Banking Act.

3. For the purposes of section 99 of the Act, every offence which is specified in the Schedule shall be a compoundable offence.

4. 

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SCHEDULE

[Regulation 3]

COMPOUNDABLE OFFENCES

Offences under sections 97(2), 97(5), 97(6), 97(9), 97(11), 97(13), 97(14), 97(15), 97(17), 97(18), 97(19) and 100(4) of the Banking Act

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Banking (Processing and Licence Fees) Regulations 2007

[GN 40 of 2007 – 15 April 2007] [Sections 5(4)(h), 8, 12(4), 14(2)(b)(5) and 32A(1)]

1. These regulations may be cited as the Banking (Processing and Licence Fees) Regulations 2007.

2. In these regulations –

"Act" means the Banking Act.

3. (1) For the purpose of section 5(4)(h) of the Act, the processing fee payable in respect of an application for a banking licence shall be the fee specified in Part I of the Schedule.

(2) For the purpose of section 32A(1) of the Act, the processing fee payable by a bank in respect of an application for the transfer of its undertaking shall be the fee specified in Part II of the Schedule.

[Reg. 3 amended by reg. 3 of GN 108 of 2013 w.e.f. 18 May 2013.]

4. (1) For the purpose of section 8 of the Act, the annual licence fee payable by the holder of a banking licence shall consist of –

 (a) the fixed fee specified in Part I of the Schedule; and

 (b) a fee computed in accordance with the formula set out in Part III of the Schedule and rounded up to the nearest 10,000 rupees.

(2) Every existing holder of a banking licence shall pay the full annual licence fee specified in paragraph (1) –

 (a) –

 (b) on 1 July of each year.

(3) (a) Where the central bank notifies an applicant under section 7(5) of the Act that its application for a banking licence has been granted, the applicant shall, at the time of the issue of the banking licence, pay the fixed fee specified in Part I of the Schedule for its principal place of business, on a pro-rated basis calculated as from the date of the issue of the licence up to the next 30 June.

 (aa) (i) Subject to paragraph (b)(ii), where the central bank approves an application of a bank for the opening of any other place of business, the bank shall, at the time the approval is given, pay the fixed fee specified in Part I of the Schedule for every other place of business, on a pro-rated basis calculated

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