Regulatory Alerts2005-01-01
Banks Act Circular 1/2005: Annual withdrawal and retention of circulars
The Registrar of Banks issued Banks Act Circular 1/2005 to clarify which administrative directives remain in force for banks and mutual banks following the annual withdrawal of previous year's circulars. The document lists specific circulars from 1998 to 2004 that remain effective until further notice and reissues essential directives from withdrawn circulars regarding foreign-exchange risk, internet disclosure, and liquid assets. Recipients are required to retain copies of these enduring directives and return signed acknowledgement of receipt forms to the Office.
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