COBAC Regulation R-93/14 Amending Article 3 of the 1992 Credit Institution Hearing Procedure

COBAC REGULATION R-93/14 AMENDING THE PROVISIONS OF ARTICLE 3 OF COBAC REGULATION R-92/01 OF DECEMBER 22, 1992 ON THE PROCEDURE FOR SUMMONING AND HEARING EXECUTIVES OF CREDIT INSTITUTIONS

The Central African Banking Commission, meeting on May 27, 1993, Having regard to the Convention of October 16, 1990 establishing the Central African Banking Commission; Having regard to the Annex to the Convention of October 16, 1990, particularly Article 13 thereof; Having regard to COBAC Regulation R-92/01 of December 22, 1992 on the procedure for summoning and hearing executives of credit institutions; HAS DECIDED:

Article 1 The provisions of Article 3 of the aforementioned COBAC Regulation R-92/01 of December 22,
1992 are amended as follows:

INSTEAD OF:
« Summoned persons have the right to be assisted by a representative of their Professional Association as well as by any defender of their choice during their hearing before the Commission. To this end, they also have the possibility to consult the file concerning them held by the General Secretariat »;

READ:
« Summoned persons may request the assistance of a representative, member of their Professional Association, during their hearing before the Commission. To this end, they also have the possibility to consult the file concerning them held by the General Secretariat ».

Article 2 This decision shall enter into force upon notification to all credit institutions authorized in the States of Central Africa, to their Professional Associations and to the Ministers responsible for Finance and Credit by the General Secretariat of the Banking Commission.

Done at Yaoundé, on July 26, 1993
For the Banking Commission,
The President,
Jean-Félix MAMALEPOT