(1)  Subject  to  subsection  (2),  a  bank,  specialised  deposit-taking institution  or  financial  holding  company  shall  not  engage  directly  in  a commercial, agricultural or industrial undertaking.

(2) Subject to the limits that the Bank of Ghana may prescribe, a bank, specialised deposit-taking institution or financial holding company shall not build, purchase or take a lease of immovable property except

(a)  for the provision of business premises, or for the purpose of housing  the  staff  of  the  bank  or  specialised  deposittaking institution; or

(b)  for the provision of amenities for staff.

(3) Despite subsection (2), a bank, specialised   deposit-taking institution or financial holding company may accept immovable property as collateral security for a debt or other liability and may acquire an interest which a bank, specialised  deposit-taking  institution  or  financial  holding company may lawfully acquire in the satisfaction of a debt due that bank, specialised deposit-taking institution or financial holding company.

(4) An interest acquired under subsection (3) shall be disposed of by the bank, specialised deposit-taking institution or financial holding company within one year after the acquisition or within a longer period that may be determined  by  the  Bank  of  Ghana  on  application  made  by  the  bank, specialised deposit-taking institution or financial holding company.

(5) Subject to the limits that the Bank of Ghana may prescribe, a bank, specialised deposit-taking institution or financial holding company may let or sublet a part of immovable property which is ordinarily used for business where the property is in excess of the immediate requirements of the bank, specialised deposit-taking institution or financial holding company.

(6) A bank, specialised deposit-taking institution or financial holding company which contravenes a provision of this section is liable to pay to the Bank  of  Ghana  an  administrative  penalty  of  one  thousand  five  hundred penalty units and for each day that the contravention continues, an additional penalty of two hundred penalty units.