Section 68: Resumption of office by directors upon conclusion of conservatorship
consolidated text (as at 2016, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
68. Resumption of office by directors upon conclusion of conservatorship
(1) Subject to subsection (2), every director of the financial institution
shall return to his office following the conclusion of the conservatorship.
(2) Subsection (1) does not apply to a director who has, after conclusion
of the conservatorship, been found by the central bank to cease to be a fit
and proper person for a directorship.
(S. 68 came into operation on 1 June 2007.)
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Questions this section answers
- Do bank directors automatically get their jobs back once conservatorship ends?