Chapter-12 Provisions on Mandatory Liquidation of Bank or Financial Institutions

Section 80: Transaction to be Suspended

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1) Immediately after submission of the application to the court pursuant to Section 78 for mandatory liquidation of a bank or financial institution, the Rastra Bank shall suspend entire financial transactions of such bank or financial institution.

2) The Rastra Bank may, while issuing an order for suspension of financial transactions pursuant to sub-section (1), revoke the license of such bank or financial institution.

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Section 80: Transaction to be Suspended

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