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(1) A bank or a specialised deposit-taking institution that owns

(a) a subsidiary company engaged in agricultural, commercial or industrial activity or

(b) investments, activities or properties in breach of section 19 shall divest itself of such subsidiaries, investments, activities or properties not later than one year after the coming into force of this Act, or any other period as the Bank of Ghana may prescribe.

(2) A bank and specialised deposit-taking institution in existence before the coming into force of this Act shall, upon the coming into force of this Act, have a grace period of six months or any other period as the Bank of Ghana may determine to ensure full compliance with the provisions  of  this  Act  in  relation  to  matters  of  capital,  liquidity,  corporate governance, lending and investments.

(3) The Bank of Ghana may

(a)  exempt a bank or specialised deposit-taking institution to which this section applies, or

(b)  modify the application of this section to a bank or specialised deposit-taking institution, if the Bank of Ghana determines that the exemption or modification is not inconsistent with the provisions of this Act.