Banking Act · s 109

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s 109Indemnity and fidelity fund

(1)

The Authority may establish or cause to be established an indemnity and fidelity fund for the benefit of depositors or other persons to whom the bank may be liable upon such conditions as it may think fit. The

Authority may consult banks for the purpose of establishing such conditions.

(2)

The Authority may require any bank to effect insurance for the protection of depositors or other persons to whom the bank may be liable in the conduct of its licensed business upon such conditions as it may think fit.

The Authority may set different conditions in respect of any bank.