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Section 88J
Effects of a special administrative group taking control of a bank or financial institution
(1) After the special administration group takes control of the commercial bank or financial institution, Section 88J. Claims of the depositors and creditors of the institution unable to receive payment and any action to maintain rights over the property of the institution in relation to any loan shall be automatically suspended. Transactions and property transfer related work and work that are not related to the process of reorganization will not be considered as postponed. (3) Creation of any liability or right of protection on such commercial bank or financial institution six months before the formation of a special administration group for the purpose of taking the commercial bank or financial institution to the process of reorganization. No one's right shall be deemed to have been created over any property, liability or security of such commercial bank or financial institution unless otherwise stated. (4) Notwithstanding anything written in sub-section (3), any type of liability created by the special administration group on the property of the commercial bank or financial institution undergoing the process of reformation shall not be deemed to have been created. (5) After the formation of the special administration group, all the rights of the shareholders of the related commercial bank or financial institution or any other type of ownership will be automatically deactivated until the process of reformation is completed. (6) After the formation of the special administration group, in the process of reformation In the case of existing commercial banks or financial institutions, the provisions of the current law on securities will not be applicable.