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Section 99
<br> which can take regulatory action
The National Bank may take one or more of the following actions against any bank or financial institution that violates this Act or the National Bank Act or the rules, regulations, instructions or orders issued under it, considering the nature and seriousness of the violation:- (a) Warning (b) to make a confession to the Board of Directors for taking corrective action, (c) to issue a written order not to violate this Act or the National Bank Act or the rules, regulations, instructions or orders issued under it or to take corrective action, (d) prohibiting the distribution of dividends or the issuance of bonus shares by a bank or financial institution to its shareholders or the distribution of dividends or the issuance of bonus shares; Limiting or imposing restrictions on giving, (f) Partially or completely banning the business of a bank or financial institution. (2) The National Bank may suspend or cancel the banking and financial transaction license granted to a bank or financial institution in the following cases:- (a) Banking and if banking and financial transactions are not started within six months from the date of obtaining the license to conduct financial transactions, (b) if banking and financial transactions are stopped without obtaining the approval of the National Bank, (c) if banking and financial transactions are conducted contrary to the interests of the depositors, or if requested or expired If the deposit received is not returned when demanded or cannot be done; If the financial institution is found to have obtained a license, (f) if the deposit is not protected in accordance with the prevailing law. According to the rules, regulations, instructions or orders issued thereunderIn case of violation, the National Bank may take one or more of the following actions considering the nature and seriousness of the violation:-(a) Confiscate and withhold the shares of the relevant bank or financial institution taken by it and instruct the Board of Directors to sell those shares to other persons, (b) Instructing the board of directors to withhold or suspend some or all of the benefits, including meeting allowances, monthly salaries, and other benefits received by the board of directors, directors, officers and other employees of a bank or financial institution, (c) the president, director, chief executive officer or chief executive of a bank or financial institution If any person or employee working in the position is found not to be working in the interest of the depositors, shareholders and licensed institutions through the inspection or monitoring of the National Bank, he/she shall be removed from that position by giving a written notice. will have to give Such a person will not be entitled to any compensation or benefits provided in the staff regulations due to his retirement and will be considered ineligible to continue serving in any bank and financial institution licensed by the National Bank for up to five years. , if officials or other employees do not understand the letter of action or if they do not submit an explanation after understanding the letter, the National Bank may inform them that the action has been taken through a public notice, (e) If any salary, allowance and other benefits are taken or given by any bank or financial institution contrary to this Act or unnatural, all such services Collecting the amount due for the facility and the interest in accordance with the prevailing law from the person providing the facility, (f) Ordering the concerned bank or financial institution to send in writing to the body with which the director, officer or employee of the bank and financial institution is professionally affiliated for action. (4) The amount payable by a bank or financial institution shall mean payment due to misbehavior or dishonesty of any director, officer or employee.If it appears to be necessary, the National Bank may order to collect such amount from such director, official or employee. (5) Such director, official or employee shall pay such amount personally within thirty-five days from the date of receiving the information of the order given in accordance with sub-section (4). (6) If payment is not made within the period as per sub-section (5), the account of any bank or financial institution in the name of such director, officer or employee or his family or any movable and immovable property of him or his family shall be levied as government debt. 7) According to this section If the National Bank regulates, inspects, supervises or takes any other action on any bank or financial institution and publishes or broadcasts the information publicly, the expenses incurred in publishing and broadcasting such information shall be paid by such bank or financial institution.