1. These regulations may be cited as the Banking (Compoundable Offences) Regulations 2008.
"Act" means the Banking Act.
3. For the purposes of section 99 of the Act, every offence which is specified in the Schedule shall be a compoundable offence.
1. These regulations may be cited as the Banking (Processing and Licence Fees) Regulations 2007.
3. (1) For the purpose of section 5(4)(h) of the Act, the processing fee payable in respect of an application for a banking licence shall be the fee specified in Part I of the Schedule.
(2) For the purpose of section 32A(1) of the Act, the processing fee payable by a bank in respect of an application for the transfer of its undertaking shall be the fee specified in Part II of the Schedule.
(b) a fee computed in accordance with the formula set out in Part III of the Schedule and rounded up to the nearest 10,000 rupees.
(b) on 1 July of each year.
(3) (a) Where the central bank notifies an applicant under section 7(5) of the Act that its application for a banking licence has been granted, the applicant shall, at the time of the issue of the banking licence, pay the fixed fee specified in Part I of the Schedule for its principal place of business, on a pro-rated basis calculated as from the date of the issue of the licence up to the next 30 June.