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(1) Where the Bank of Ghana is satisfied that a person has contravened a provision of section 34, 35 or 36, it may by directive

(a) annul the transfer, merger, amalgamation or reconstruction,

(b) prohibit the exercise of voting rights in respect of the shares, or

(c) prohibit the payment of dividend in respect of the shares, or

(d) prohibit the issue of 'bonus shares' or 'rights issue' in respect of the shares.

(2) A directive issued by the Bank of Ghana under subsection (1), shall be in writing and shall be binding on the parties to the share transfer and the bank concerned.