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(1) A bank shall not grant any advances, loans or credit facilities including guarantees, against the security of,

(a) its own shares,

(b) the shares of its holding company,

(c) the shares of any of its subsidiaries, or

(d) the shares of any of the subsidiaries of its holding company.

(2) A bank which contravenes a provision of subsection (1) commits an offence and is liable on summary conviction to a fine not exceeding 1000 penalty units