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2023-08-02

International Banking (Amendment) (No. 2) Act, 2023

The Belize House of Representatives and Senate enacted the International Banking (Amendment) (No. 2) Act, 2023, to amend the International Banking Act regarding single borrower limits. This legislation modifies Section 21B by replacing the phrase requiring prior written approval of the Central Bank with the word 'The' in subsection (2). Additionally, it repeals paragraphs (b) and (d) of subsection (4) to update the regulatory measures for banks and financial institutions.

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BELIZE: INTERNATIONAL BANKING (AMENDMENT) (NO. 2) ACT, 2023 ARRANGEMENT OF SECTIONS

  1. Short title.
  2. Amendment of section 21B. International Banking

No. 35] International Banking 1289 AN ACT to amend the International Banking Act, Chapter 267 of the Substantive Laws of Belize, Revised Edition 2020; to amend the measures for single borrower limits among banks and financial institutions; and to provide for matters connected therewith or incidental thereto. (Gazetted 2nd August, 2023). BE IT ENACTED, by and with the advice and consent of the House of Representatives and Senate of Belize and by the authority of the same, as follows:

  1. This Act may be cited as the INTERNATIONAL BANKING (AMENDMENT) (NO. 2) ACT, 2023, Short title. No. 35 of 2023 I assent, (H.E. DAME FROYLA TZALAM) Governor-General 1st August, 2023.

and shall be read and construed as one with the International Banking Act, which, as amended, is hereinafter referred to as the principal Act. 2. The principal Act is amended in section 21B- (a) in sub-section (2), by deleting the phrase “Except with the prior written approval of the Central Bank,” and substituting it with the word “The”; and (b) in sub-section (4), by repealing paragraphs (b) and (d). 1290 International Banking [No. 35 CAP. 267. Amendment of section 21B. Printed in Belize by the Government Printer #1 Power Lane, Belmopan

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