Mutual Banks Act, 1993 (Act No. 124 of 1993)

Regulations

Regulations relating to Mutual Banks

Chapter I : Basis of Regulation

2. Management accounts as basis for the completion of risk-based returns
Purchase cart Previous page Return to chapter overview Next page

 

(1) All the prescribed risk-based returns shall reflect the management accounts as presented to the management and board of a mutual bank.

 

(2) In the event of a conflict between the instructions, directives and interpretations relating to the completion of the risk-based returns, as prescribed in these Regulations, and the manner in which the management accounts of the mutual bank concerned are completed, the format of such management accounts shall, subject to prior consultation with, and the written approval of, the Authority, prevail.