Central Bank Act, 1971

Exemption of persons from section 7.

8.—Where, by reason only of a person's use in a name or title of any of the words “bank”, “banker” or “banking” or any word which is a variant, derivative or translation of or is analogous to any of those words, the person would be deemed to be holding himself out as a banker, the Bank may exempt the person from the provisions of section 7 of this Act if, in the opinion of the Bank, the person does not in fact carry on or propose to carry on hanking business and does not otherwise hold himself out or represent himself as a banker or as carrying on banking business.