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Author: Lysander Lyon, MP
Sponsor: N/A
Type: Act of Parliament
1. Short Title
(a) This bill shall be referred to as the "Banking Foundations Act Amendment".
(b) This bill was authored by Lysander Lyon.
2. Enforcement Amendment
(a) Section 8(f) shall be created, and shall state “Non-compliance by a financial institution may result in penalties, suspension of operations, or revocation of its license to operate, depending on the severity of the violation, as judged by the Ministry of Economic Affairs.”
Enactment: This Act comes into force immediately upon passage.
Sponsor: N/A
Type: Act of Parliament
A
BILL
TO
Amend the Banking Foundations Act
BILL
TO
Amend the Banking Foundations Act
1. Short Title
(a) This bill shall be referred to as the "Banking Foundations Act Amendment".
(b) This bill was authored by Lysander Lyon.
2. Enforcement Amendment
(a) Section 8(f) shall be created, and shall state “Non-compliance by a financial institution may result in penalties, suspension of operations, or revocation of its license to operate, depending on the severity of the violation, as judged by the Ministry of Economic Affairs.”
Enactment: This Act comes into force immediately upon passage.