Co-operative Banks Act, 2007 (Act No. 40 of 2007)Chapter III : Prudential Requirements and Large Exposures21. Inability to meet or maintain prudential requirements |
| (1) | A co-operative bank that is unable to meet or maintain the prudential requirements referred to in section 20 or 23(2) must immediately report its inability and the reasons therefor to the Authority. |
| (2) | The Authority may— |
| (a) | de-register or suspend the registration of a co-operative bank referred to in subsection (1) in accordance with section 11; or |
| (b) | condone the inability to meet or maintain the prudential requirements referred to in section 20 or 23(2) subject to such conditions as the Authority may impose. |