Banking Act (Cap. 371), article 17E

17E. (1) The competent authority shall require a credit institution to take the necessary measures at an early stage to address relevant problems in circumstances where - (a) the credit institution does not meet the requirements of this Act or any regulations made or Banking Rules issued thereunder, of any binding legal instruments issued under BANKING [CAP. 371. 49 the CRD or of the CRR; (b) the competent authority has evidence that the credit institution is likely to breach this Act or any regulations made or Banking Rules issued thereunder, any binding legal instruments issued under the CRD or the provisions of the CRR, within the following twelve months. S.L. 371.16 (2) For the purposes of sub-article (1), the powers of the competent authority shall include the supervisory powers referr ed to in regulation 9 of the Banking Act (Supervisory Review) Regulations . (3) The competent authority shall apply supervisory measures in accordance with the level of application of the requirements of Part One, Title II of the CRR. Liquidity. Amended by: XVII. 2002.176; XX. 2007.85, 102.