(1) Where the Bank of Ghana revokes a banking licence, the bank shall cease operations, if the bank has not ceased operation following an order of moratorium, and surrender the licence to the Bank of Ghana.

(2) A bank which fails to comply with subsection (1) commits an offence and every director is liable on summary conviction to a fine of not less than 1000 penalty units or in default, to a term of imprisonment not exceeding 5 years.