Banking and Financial Institutions Act 1989 · s 32

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s 32

(1)

Unless the Minister on the recommendation of the Bank otherwise prescribes, no licensed institution shall engage, whether on its own account or on a commission basis, and whether alone or with others, in wholesale or retail trade, including import and export trade, except in connection with the realisation of security given to or held by it for the purpose of carrying on its licensed business.

(2)

The provisions of subsection (1) shall not apply to the purchasing or selling of gold or foreign currency by any licensed bank.

(1)