Banking Act (Cap. 371), article 28

28. Notwithstanding any investigation provided for in this Act and any regulations made and, o r Banking Rules and, or Conduct of Business Rules iss ued thereunder - (a) where a credit institution, financial holding company or mixed financial holding company establishes that it is likely to become unable to meet its obligations or that it is about to suspend payment, it shall forthwith inform the competent authority and the Governor of the Central Bank in writing; (b) where the competent authority becomes aware that a credit institution, financial holding company or mixed financial holding company is likely to become unable to meet its obligations or that it is about to suspend payment, it shall forthwith inform the Governor of the Central Bank in writing; (c) where the Central Bank becomes aware that a credit institution, financial holding company or mixed financial holding company is likely to become unable to meet its obligations or that it is about to suspend payment, it shall forthwith inform the competent authority in writing. Depositor protection. Added by: XVII. 2002.184. Amended by: IV . 2003.181; XX. 2007.113.