Regulatory Alerts2009-02-06 | 34987Added · Updated
Central Bank (Amendment) Act, 2009
This Act amends the Central Bank Act by updating the definition of "financial institution" to reference the Financial Institutions Act, 2008. It redefines "Inspector" and "institution" in section 44C to align with the Financial Institutions Act, 2008, the Insurance Act, and the Co-operative Societies Act, while extending the Act's provisions to societies registered under the Co-operative Societies Act. Section 44D is amended to expand the Central Bank's financial assistance powers to include policy holders and members, and to exclude insurance companies and registered societies from such assistance for banking entities.
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