Mutual Banks Act, 1993 (Act No. 124 of 1993)Chapter II : Administration of Act5. Furnishing of information by mutual banks |
| (1) | The Registrar may by notice in writing— |
| (a) | direct a mutual bank or the holder of any interest in a mutual bank to furnish the Registrar, at such time or times or at such intervals or in respect of such period or periods as may be specified in the notice, with such information as may be specified in the notice and as the Registrar may reasonably require for the performance of his functions under this Act; or |
| (b) | direct such mutual bank or such holder of any interest in a mutual bank to furnish the Registrar with a report by a public accountant as defined in section 1 of the Public Accountants' and Auditors' Act, 1991 (Act No. 80 of 1991), or by any other person with appropriate professional skill, on any matter, or any aspect of any matter, about which the Registrar has directed or may direct under paragraph (a) the mutual bank or the holder of any interest in a mutual bank to furnish information. |
| (2) | The public accountant or other person appointed by a mutual bank or the holder of any interest in a mutual bank to make a report required under subsection (1)(b), shall be a person designated or approved by the Registrar, and the Registrar may require the relevant report to be in such form as may be specified in the notice referred to in subsection (1). |