Examples of Financial Institutions Act in a sentence
Administration of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993).
Modification of financial institutions’ shares structure According to section 15 of the Financial Institutions Act, institutions have to report any negotiation on share packages producing changes in the classification of the institution or alteration to the structure of shareholding groups.
To the extent that claims in relation to the Covered Bonds and relating derivative agreements are not met out of the assets of the Issuer that are covered in accordance with the Financial Institutions Act, the residual claims will rank pari passu with the unsecured and unsubordinated obligations of the Issuer.
SCBMB was granted a license on 1 July 1994 under the Banking and Financial Institutions Act, 1989 (now known as the Financial Services Act 2013).
Effective from the year of assessment 2017, the exemption shall not apply to interest paid or credited to a company in the same group or interest paid or credited to a bank licensed under the Financial Services Act 2013 or the Islamic Financial Services Act 2013; or a development financial institution prescribed under the Development Financial Institutions Act 2002.