Central Bank Act, 1989.
Requirement on Bank before refusal to approve acquiring transaction. |
78.—(1) Subject to subsection (2), the Bank shall not refuse its approval to a proposed acquiring transaction unless it is satisfied that the transaction would not be in the interests of the orderly and proper regulation of banking. | |
(2) In the case of a proposed acquiring transaction to which section 77 relates, the Bank shall refuse its approval— | ||
(a) where the proposal of the Bank is to refuse to give its approval and the Minister consents to that proposal, or | ||
(b) where the proposal of the Bank is to give its approval and the Minister refuses to consent to that proposal. |