Banking Act (Cap. 371), article 17DA

17DA. Credit institutions shall h ave in place adequate risk management processes and internal control mechanisms, in accordance with the Banking Act (Supervisory Review) Regulations and as may be prescribed from time to time in a Banking Rule, including sound reporting and accounting procedures in order to identify, measure, monitor and control transactions with their parent mixed activity holding company a nd its subsidiaries appropriately. Credit institutions shall repor t any significant transaction with those entities other than the one referred to in Article 394 of the CRR: Provided that those procedures and significant transactions shall be subject to overview by the competent authority. Supervisory measures. Added by: X. 2015.30. Amended by: LXXI.2021.41.