26. Amendment of section 28
Feedback & supportSection 28 of the principal Act is amended—
by deleting subsection (2);
in subsection (3)—
by substituting for the word “No” the words
“Unless otherwise specified by the Bank, no”;
in paragraph (a), by substituting for the words
“an accountant, advocate, architect, estate agent, doctor or any other” the word “any”;
by inserting at the end of paragraph (b) the word
“and”; and
by deleting paragraph (c);
by inserting after subsection (3) the following subsection:
“(3a) No prescribed institution shall grant any financing facility to any corporation in the shares of which any of its members, directors or officers has any interest which, in aggregate, is of an amount that is in excess of such percentage as the Bank may specify.”;
Development Financial Institutions (Amendment)
in subsection (4), by substituting for paragraph (b) the following paragraph:
“(b) where there is no such provision and the prescribed institution is satisfied that special or compassionate circumstances exist, a loan not exceeding such period as may be specified by the Bank.”; and
in subsection (5), by inserting after the words “of a director or officer” the words “, or any other person as may be specified by the Bank”.