Regulatory Alerts2004-01-01
Banks Act Circular 1/2004: Annual Withdrawal and Retention of Circulars
The Registrar of Banks issues Banks Act Circular 1/2004 to withdraw previous administrative directives and reissue those remaining in force, ensuring clarity on applicable regulations under the Banks Act and Mutual Banks Act. The document lists specific circulars from 1998 to 2003 that remain effective and extracts essential directives from withdrawn circulars to prevent the accumulation of obsolete guidance. Banks, foreign bank branches, and mutual banks are required to retain copies of these reissued circulars and return signed acknowledgements of receipt to the Office.
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