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(5) The Minister may, for any purpose of any provision of this Act that refers to control within the meaning of paragraph (1)(d), make guidelines respecting what constitutes such control of a federal credit union, including guidelines describing the policy objectives that the guidelines and the relevant provisions of
2021, c. 23, s. 154. 21 (1) Subject to subsections (2) and (4), banks shall not carry on business, and authorized foreign banks shall not carry on business in Canada, after June 30, 2025.
The Act contains a sunset clause providing that it and the bank charters provided by it will expire unless the statutory review is conducted every five years.
Answer: Ordinarily, it has eleven provisions. The major provisions are such as Payment of Commission, Brokerage, Prohibition of Trading, Capital Structure, Non-Banking Assets, Minimum Capital and reserves, etc. Answer: The banking regulation act was passed in the year of 1949.
The bill was designed to provide for the safer and more effective use of the assets of banks, to regulate interbank control, to prevent the undue diversion of funds into speculative operations, and for other purposes. The measure was sponsored by Sen. Carter Glass (D-VA) and Rep. Henry Steagall (D-AL).
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The fundamental distinction between any Commercial Bank as well as a Small Financial Bank is that the capital obtained by any Commercial Bank has no restriction, but a Micro Finance Bank must pay a minimum capital of 100 crores.
(b) no banking company incorporated in India shall open a new place of business outside India or change, otherwise than within the same city, town or village in any country or area outside India, the location of an existing place of business situated in that country or area: Provided that nothing in this sub-section

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