Chapter-2 Banking Offences

Section 9: Not to misuse banking resources, means and assets

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11) The founder, director, shareholder, chief executive officer, employee, managing agent, or related person or organisation, or family member of such person, of a bank or financial institution shall not misuse the resources and means of the bank or financial institution by taking facilities from the bank or financial institution or in any other way.

2) No one shall cause or cause to be caused any expenditure of the assets of a bank or financial institution in a manner that is detrimental to the interests of the depositor or the bank or financial institution.

3) No one shall commit any financial irregularities in any transaction of a bank or financial institution, including non-banking assets.

1 Amended by the First Amendment.

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