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Section 88C
Functions, Duties and Powers of Special Administrative Groups

(1) The special administration group shall have all rights to be exercised by the general assembly, board of directors, chief executive officer and other officials of the respective commercial bank or financial institution. In relation to managing the assets, distributing any assets and liabilities and operating the commercial bank or financial institution, the following rights shall be granted:- (a) To sell the whole or partial shares of the commercial bank or financial institution pending sale to a new person, (b) To conduct any business And entrusting any other organization to carry out special work that can be carried out regularly from a systemic point of view, or establishing a separate pool institution - Bridge Institution) or unit for some time to carry out such work, (c) the related commercial bank or financial institution or the commercial bank or financial institution Selling any or all of the business or property of a subsidiary company of the organization, (d) Selling the property or rights of any other person or organization of the related commercial bank or financial institution. There will be other rights as well:- (a) The special administrative group will require the relevant person to submit the documents it deems necessary to carry out the work of Farfarakh. ) transferring certain rights, assets or liabilities of the concerned commercial bank or financial institution to another person, (d) canceling shares or other instruments issued by the concerned commercial bank or financial institution, (e) issued by the concerned commercial bank or financial institution or any or all of its shareholders Transfer of shares or other instruments of ownership held in the name of any other person on the basis of prescribed rules, (f) Preference shares or capital stock.Issuing other binding instruments, (g) Taking all necessary steps to protect and take care of the property of the commercial bank or financial institution concerned. (4) The special administration group shall not be required to do the following while performing the activities related to the dissolution of the commercial bank or financial institution under the terms of this section:- (a) To obtain the prior approval of any persons in the public or private sector, including shareholders, depositors or creditors of commercial banks or financial institutions in the process of expansion, (b) to notify any person, firm, company or organization except as otherwise mentioned in this paragraph. (5) Special The administration group shall complete the work related to the development in accordance with this Act within one year of its initiation. However, if any work related to the development carried out by the special administration group cannot be completed within the specified time, the bank may extend the term of office of the special administration group based on necessity and appropriateness. (6) Any or all of the following actions may be performed on behalf of the bank or financial institution:- (a) To provide continuity to other activities of the commercial bank or financial institution except for collecting deposits and providing any loans, (b) suspending or suspending any activities of the commercial bank or financial institution. to close, (c) to take loans with or without securing the property of a commercial bank or financial institution, (d) to stop the payment of the liability of a commercial bank or financial institution or to set a limit for the same, (e) necessary officers for a commercial bank or financial institution, To appoint or dismiss employees or business advisors, (f) to convene a meeting of depositors and creditors for the purpose of discussing and deciding matters deemed necessary by the special administration group, (g) to make any legal defense on behalf of a commercial bank or financial institution, or (h) To perform or cause other necessary tasks related to Farfarakh. (7) To give the special administration group access to the offices, books, records, assets and information technology systems of the related commercial banks or financial institutions and their subsidiaries.(8) The special administration group shall merge all or the main assets of a commercial bank or financial institution under its control with any other commercial bank or financial institution, or acquire the assets of another commercial bank or financial institution and merge them with each other in accordance with the applicable law. According to the proposal, the application should be submitted to the bank. After receiving the application with the proposal, the bank has to take a decision to accept or reject such application. (9) Based on the financial status of the commercial bank or financial institution, prepare a statement of the amount that may be required for the estimated expenses incurred in the process of conversion and other expenses required by the prevailing law. Arrangements should be made to return or pay the amount due to that obligation at once or in installments out of the amount available to pay the deposit obligation. While making payments in this way, depositors and creditors of the same category shall be treated equally. (10) Procedures related to determining the validity of claims submitted by depositors and creditors to the concerned commercial bank or financial institution, payment of claims, determination of liability and return of personal property of the customer shall be determined. 11) Regardless of what is written in the prevailing law, the special administration group may sell the property of a commercial bank or financial institution in one or more ways such as auction, sealed offer, negotiation, based on the specified minimum price and keep a transparent and commercial approach. (12) The special administration group shall submit to the bank from time to time the financial statement of the commercial bank or financial institution, the plan of sale of the assets of the institution and its view on the same, the forecast of the obligations of the institution or the method of its payment, the actual transfer of the property and the estimate of the obligations to the bank. (13) Special administration group to issue new shares of related commercial banks or financial institutions, assetsIf it is deemed necessary to sell property, to consolidate property for securitization, to arrange for the forecasting of liabilities or to manage such works, it may entrust any agency or company established to perform the work related to property management under the prevailing law. The right to sell non-performing loans, hard-to-assess assets and liabilities of related commercial banks or financial institutions may also be transferred to such entities or companies.