Banking and Financial Institutions Act 1989 · s 35

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s 35

(1)

If the Bank is of the opinion that any statement made in an advertisement issued by a licensed institution is false, deceptive, offensive or misleading, the Bank may by notice in writing direct the institution to do all or any of the following:

(a)

cease the continued issue of the advertisement;

(b)

modify the advertisement in such manner as may be specified by the Bank;

(c)

cease the issue of any advertisement which is, wholly or substantially, a repetition of such advertisement;

(d)

take all practical steps to withdraw the advertisement from every and all publication or display of it; or

(e)

publish a statement in like manner as the advertisement issued earlier to retract or modify such advertisement.

(2)

The Bank may vary, add to, revoke or otherwise amend any directions issued under subsection (1) by a notice in writing to the institution concerned.