Amendment to procedural filing fees reduces prescribed penalties and exempts banking companies from certain loan-resolution restrictions. The amendment removes the time-specific filing requirement, lowers the prescribed minimum penalties and fees by substituting reduced monetary thresholds, ... Summary
Amendment to procedural filing fees reduces prescribed penalties and exempts banking companies from certain loan-resolution restrictions.
The amendment removes the time-specific filing requirement, lowers the prescribed minimum penalties and fees by substituting reduced monetary thresholds, deletes one enumerated clause, and adds a proviso exempting banking companies from application of the clause when resolutions authorise loans, guarantees, or security for loans made in the ordinary course of banking business.
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