Section 35
ActIn forceProvision 38 of 53
Section 35
(1)
Where the Central Bank has assumed control of the business of a licensed borrowing company pursuant to section 33, the licensed borrowing company shall submit its business to the control of the Central Bank and shall provide the Central Bank with such facilities as the Central Bank may require to carry on the business of the licensed borrowing company.
(2)
Any licensed borrowing company which fails to comply with sub-section (1) or with any requirement of the Central Bank pursuant to that sub-section is guilty of an offence and shall on conviction, be liable to a fine not exceeding one thousand dollars for every day the offence continues.