Mutual Banks Act, 1993 (Act No. 124 of 1993)Chapter III : Authorization to Establish, and Registration and Cancellation of Registration of, Mutual Banks26. Withdrawal of suspension or restriction |
| (1) | The Registrar may on the written application of a mutual bank of which— |
| (a) | the registration was suspended under section 21; or |
| (b) | the activities were restricted under section 24, by written notice to the institution concerned withdraw such suspension or restriction, as the case may be, provided the Registrar is satisfied that the institution has complied with all requirements for such withdrawal imposed by the Registrar in the conditions of suspension or restriction. |
| (2) | Application for an order discharging an order under section 23 whereby the registration of a mutual bank has been suspended, may be made to the competent court referred to in section 23(2). |