Central Bank Act, 1971

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Directions by Bank in relation to advertisements of holders of licences.

22.—(1) The Bank may give a direction in writing to a holder of a licence in relation to the information which the holder shall include in any advertisement to be published by him or on his behalf or in any statement to the public to be made by him or on his behalf

(2) The Bank may give a direction to a holder of a licence to refrain from publishing or continuing to publish during such period as shall be specified in the direction an advertisement inviting deposits from the public.

(3) The Bank shall not give a direction under this section unless it is satisfied that it is desirable to do so in the interest of the orderly and proper regulation of banking.