(1) A bank which fails to

(a) credit customers within the time specified by the Bank of Ghana; or

(b) return unapplied credits or debits within the period prescribed by the Bank of Ghana, is liable to pay to the Bank of Ghana an administrative penalty specified in subsection (2).

(2) The administrative penalty in subsection (1) shall be calculated by applying the base rate of the offending bank plus five hundred basis point on the fund of the customer.