74. Power of the Bank to issue guidelines, etc.

The Bank may generally in respect of this Act, or in respect of any particular provision of this Act, or generally in respect of the conduct of all or any of the licensees, issue such guidelines, circulars, standards or notices as the Bank may consider desirable.

The Bank may revoke or amend the whole or any part of any guidelines, circulars, standards or notices issued under this section.

A person to whom the guidelines, circulars, standards or notices referred to in subsection (1) apply shall comply with such guidelines, circulars, standards or notices within such period as may be specified by the Bank.

Where a person referred to in subsection (3) contravenes or fails to comply with any guidelines, circulars, standards or notices issued by the Bank, the Bank may take any action as set out in subsection 73(1) or 75(2) as the Bank deems fit.