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Power to required deposit by licensed bankers in certain circumstances.
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50.—(1) If at any time it should appear to the Board, with the concurrence of the Minister, that it is expedient so to do, it shall be lawful for the Board to make, with the consent of the Minister, regulations requiring every licensed banker to make with the Bank a deposit (not bearing interest) of a specified amount or calculated in a specified manner whenever after a specified date the assets held by him within the State fall below a specified proportion in relation to his liabilities within the State, and to maintain such deposit so long as such assets are below the said specified proportion.
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(3) If and whenever regulations made by the Board under this section are in force, it shall be the duty of every licensed banker to comply with such of those regulations as are applicable to him, and, if any licensed banker fails (whether by act or omission) so to do, he shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding one hundred pounds for every day during which such failure is continued.
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