Section 11
of Act 125
Section 11
No licensed borrowing company shall open any office opening of or place of business— offices.
(a)
outside the Federation; or
(b)
in the Federation without the prior written consent of the Central Bank.
12, The Central Bank shall publish in the Gazette— Cael
(a)
every year not later than the 31st day of March the publish list names of licensed borrowing companies; oe
(b)
the names of licensed borrowing companies to companies.
which licences are granted after the publication of the names pursuant to paragraph (a); and
(c)
the names of licensed borrowing companies whose licences are suspended or revoked.
[S. 13:16]
10 Act 6
Name tobe 13, (1) Every licensed borrowing company shall paint or onal affix and keep painted or affixed on the outside of every offices. office or place of business in a prominent position and easily legible in the National Language its name and the words, “licensed borrowing company”.
(2)
Any licensed borrowing company which fails to comply with the provisions of sub-section (1) is guilty of an offence and shall on conviction be liable to a fine not ie exceeding /fve—hundred—dollars for every day the offence continues.
ATemion 14. When a licensed borrowing company alters its memo-randumor Tandum or articles pursuant to the relevant provisions of the aes. Companies Act, 1965 (as the case requires) it shall within one month of the alteration inform the Central Bank of the alteration and supply the Central Bank with a certified true copy of its memorandum or articles as altered and certified by a director or the secretary of the company.