Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 12A : Resolution of Designated Institutions

Part 1 : General provisions with respect to designated institutions

166A. Exercise of Reserve Bank's powers
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(1) The Reserve Bank is the resolution authority, and has the resolution functions conferred on it by this Act.

 

(2) The resolution functions of the Reserve Bank are performed by the Governor.

 

[Section 166A inserted by section 51 of the Financial Sector Laws Amendment Act, 2021 (Act No. 23 of 2021), Notice No. 789, GG45825, dated 28 January 2022- effective 1 June 2023 per (b)(ii) of Commencement Notice No. 3202, GG48294, dated 24 March 2023]