Regulations > Regulations relating to Mutual Banks > Chapter I : Basis of Regulation

(1)	Unless departures therefrom are specifically authorized by the Act or by the Authority, the annual financial statements of a mutual bank shall be compiled in accordance with generally accepted accounting practice.

(2)	Audited annual financial statements in respect of all subsidiary companies shall be submitted by such a mutual bank to the Authority when required by him, and the information reported on form DI 702 inter alia reflect such financial statements.

(3)	Interim reports, where applicable, in respect of a mutual bank shall be submitted to the Authority as soon as they become available.

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