Section 93
Notification on acquisition or disposal of interest in shares of licensed person
of Financial Services Act 2013
(1)
Where it comes to the knowledge of a director or an officer of a licensed person or a financial holding company that—
(a)
any agreement or arrangement as referred to in section 87 or 89 has been or is about to be effected; or
(b)
any person approved by the Bank under paragraph 90(3)(a)
or the Minister under subsection 90(6) in respect of subsection 87(2) or 88(1), has failed to comply or is likely to fail to comply with standards as may be specified under subsection 91(1), the director or officer shall immediately notify the Bank of all such information which is within his knowledge.
(2)
No director or officer shall be liable to any action for defamation at the suit of any person or be subject to any disciplinary proceedings in respect of the notification under subsection (1) made by the director or officer without malice.
Financial Services 109