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The Bank and Trust Companies (Amendment to Third Schedule) Regulations, 2006

MINISTRY OF FINANCE

S.I. No. 16 of 2006

THE BANKS AND TRUST COMPANIES

REGULATION ACT

(CHAPTER 316)

THE BANKS AND TRUST COMPANIES REGULATION

(AMENDMENT TO THIRD SCHEDULE) REGULATIONS, 2006

The Minister, in exercise of the powers conferred by section 27 of the Banks and Trust Companies Regulation Act, makes the following regulations -
1.(1)
These regulations may be cited as the Banks and Trust Companies Regulation (Amendment to Third Schedule) Regulations, 2006.

Citation and commencement.
(2)
These regulations shall come into operation on the 30th October, 2005.
2.
The Third Schedule to the Banks and Trust Companies Regulation Act is amended in paragraph 1 -

Amends Third Schedule to Ch. 316-3.
(a)
at subparagraph (a) by the deletion of the words "regulation 44" and the substitution therefor of the words "regulation 42";
(b)
by the insertion of the words "as per its last audited financial statement" immediately after the words "the licensee" occurring in subparagraphs (a), (b), (c), and (d), respectively;
(c)
at subparagraph (b) by -
(i)
the deletion of item (iv) and the substitution therefor of the following -

"(iv) has assets exceeding $1 billion but not exceeding $1.5 billion 500,000";

"(v) has assets exceeding $1.5 billion 600,000";
(d)
at subparagraph (d) by the deletion of item (ii) and the substitution therefor of the following -

"(ii) has assets exceeding $5 million but not exceeding $20 million 100,000";
(e)
at subparagraphs (f) and (h) by the deletion of the words "25,000 and the substitution therefor of the words 35,000";
(f)
at subparagraphs (j), (k), and (1) by the deletion of the words "5,000" and the substitution therefor of the words "15,000";
(g)
at subparagraphs (m) and (n) by the deletion of the words "2,500" and the substitution therefor of the words "5,000".

Made this 8th day of May, 2006

Signed

PERRY G. CHRISTIE

Minister Responsible For Finance

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