Section 19. Requirements for commencing or carrying on scheduled business. (BANKING AND FINANCIAL INSTITUTIONS ACT 1989

ACT 372
BANKING AND FINANCIAL INSTITUTIONS ACT 1989

PART III - SCHEDULED BUSINESSES AND REPRESENTATIVE OFFICES

Section 19. Requirements for commencing or carrying on scheduled business.

(1) No person shall after the effective date commence to carry on a scheduled business unless-

(

) it is a company;

(

)

[Deleted by Act A1211:s.4]

(

) it has complied with the requirements of subsection 21 (1) and has obtained a written acknowledgement from the Bank in respect of such compliance.

[Subs. Act A954:s.8]

(2) Subsection (1) shall not apply to a co-operative society, a statutory body, a local authority, a licensed bank, a licensed finance company or a licensed merchant bank.