Islamic Banking Act · s 33

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33.
Use of information, powers etc. for protection of depositors
(1) If it appears to the Authority to be desirable to do so in the interests of the depositors or potential depositors of a relevant person, the
Authority may also exercise the powers conferred by section 34(1) and (4) in relation to —
(a) any company which is or has at any relevant time been a parent or subsidiary undertaking of the relevant person or with which the relevant person is or has been otherwise closely linked; or
(b) in relation to a partnership of which the relevant person is or has at any relevant time been a member or with which the relevant person is or has been otherwise closely linked.

Islamic Banking
(2) In determining, for the purposes of subsection (1), whether the relevant person is or has been closely linked with any other person, section 8(5) applies as it applies in relation to section 8(4), except that for any reference in that subsection to the applicant there shall be substituted a reference to the relevant person.
(3) References in section 31(7) apply also in relation to provisions of that section applied by this section.
(4) In this section, “relevant person” has the same meaning as in section 31(8).

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s 33Use of information, powers etc. for protection of depositors

(1)

If it appears to the Authority to be desirable to do so in the interests of the depositors or potential depositors of a relevant person, the

Authority may also exercise the powers conferred by section 34(1) and (4) in relation to —

(a)

any company which is or has at any relevant time been a parent or subsidiary undertaking of the relevant person or with which the relevant person is or has been otherwise closely linked; or

(b)

in relation to a partnership of which the relevant person is or has at any relevant time been a member or with which the relevant person is or has been otherwise closely linked.

Islamic Banking

(2)

In determining, for the purposes of subsection (1), whether the relevant person is or has been closely linked with any other person, section 8(5) applies as it applies in relation to section 8(4), except that for any reference in that subsection to the applicant there shall be substituted a reference to the relevant person.

(3)

References in section 31(7) apply also in relation to provisions of that section applied by this section.

(4)

In this section, “relevant person” has the same meaning as in section 31(8).