Gazette amending-2019-0015 — Building Societies Act

Gazette

amending-2019-0015

Published

LG28/S6 —

s3Amends section 3 to require the determination of fit and proper persons for directors and senior officers.

LG28/S6 —

s4Adds a new paragraph (da) requiring that directors and senior officers are required to be fit and proper persons.

LG28/S6 —

s13Inserts section 13A, which requires the approval of the Authority for changes in directors or senior officers.

LG28/S6 —

s15Inserts section 15A, prohibiting issuance or transfer of shares without prior approval from the Authority.

LG28/S6 —

s22Inserts section 22A, detailing obligations of auditors regarding society audits and reporting to the Authority.

LG28/S6 —

s33Adds a new paragraph (aa) allowing the Authority to assess fitness and propriety of persons required under this Law.

LG28/S6 —

s34Adds a new paragraph (aa) regarding building societies with directors or senior officers who are not fit and proper persons.