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Section 90
Repeal Plan
(1) Within thirty days after the completion of the classification of claims in accordance with section 88, the liquidator shall prepare a detailed plan for the liquidation process of that bank or financial institution and submit it to the court for approval and provide the same information to the National Bank. The liquidation plan shall include the following items:- (a) Detailed description of assets or liabilities of the bank or financial institution, their nature and results, (b) Details of past and projected income and expenses of the bank or financial institution, (c) Current financial statements of the bank or financial institution. Detailed information regarding the continuation or cancellation of the transaction, (d) the decision or order from the court, (e) the details of the action taken to demand compensation for the offense or other illegal actions committed by the director, officer or employee of the bank or financial institution, (f) claim Detailed description including classification and payment priority, (g) Bank or financial institution's main asset or group of assets related to sale and liquidity plan, (h) Bank or financial institution's obligations and possible payment details table to be paid to depositors and creditors within the next ninety days, (i) Costs and expenses of compulsory liquidation, (j) Other details specified by the National Bank. (3) The liquidator shall update the liquidation plan as per sub-section (1) on a quarterly basis. shall be made available for inspection. (5) Notwithstanding anything else written in this Act, a bank or financial institution which has gone into compulsory liquidation shall not be fully or partially invested and recapitalized.