Regulatory Alerts2011-09-20
International Banking (Enforcement of Orders) Regulations of 2006
The Central Bank of Belize, with the approval of the Minister responsible for banks and banking, enacted these regulations to enforce compliance with orders issued under the International Banking Act. The regulations authorize the Central Bank to apply summarily to the Supreme Court for enforcement orders when a person refuses or neglects to comply with any directive, circular, or regulation. Such court orders may include conferring authority on the Registrar of the Court to take necessary steps to secure compliance with the breached requirement.
No. 107] International Banking 1
BELIZE:
STATUTORY INSTRUMENT
No. 107 of 2006
REGULATIONS made by the Central Bank of Belize, with the approval of the Minister responsible for banks and banking, in exercise of the powers conferred upon them by section 45 of the International Banking Act, Chapter 267 of the Laws of Belize, Revised Edition 2000-2003, and all other powers thereunto them enabling.
(Gazetted 21st October, 2006.)
- These Regulations may be cited as the
INTERNATIONAL BANKING (ENFORCEMENT OF ORDERS) REGULATIONS, 2006.
- (1) Where the Central Bank has issued any order, directive, circular or regulations pursuant to the provisions of the International Banking Act, and any person refuses, neglects or otherwise fails to comply therewith, the Central Bank may, without prejudice to any other remedy available to it under the said Act or any other law, apply summarily to the Supreme Court for such Orders of the Court as may be necessary for enforcing such order, directive, circular or regulation.
(2) Without limiting the generality of subregulation (1) above, such Order of the Court may include an Order conferring on the Registrar of the Court authority to do any
Short title.
Enforcement of orders, directives, etc., of Central Bank CAP. 267.
2 International Banking [No. 107
act or take any step necessary to secure compliance with such order, directive, circular or regulation.
MADE by the Central Bank of Belize this 5th day of October, 2006.
[Signature] CHAIRMAN Central Bank of Belize
APPROVED by the Minister responsible for Banks and Banking this 13th day of October, 2006.
[Signature] (SAID W. MUSA) Minister of Finance, Minister responsible for banks and banking
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