Section 62

Any bank which has been granted a licence under the repealed Ordinance and which has entered into any transactions prohibited by or under sections 26, 29, 30 and 31 shall within six months of the commencement of this Act submit a statement of the transactions to the Central Bank and shall within that period or such further period as the Central Bank may specify in any particular case, liquidate the transactions or bring the transactions within the limitations allowed by those sections and dispose of any property or right as may have been acquired thereby.

Any bank which is granted a licence under the repealed Ordinance shall comply with the provisions of section 5 within a period of three months from the commencement of this Act or within such further period as the Minister may specify in any particular case.

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