Section 86I
Right To Appeal Against The Order Of The Bank
(1) Only the representative of shareholders of the commercial bank or financial institution can appeal to the committee within fifteen days against the action, order, decision or Proceedings of the bank or the official appointed by the bank, under Section 86C, 86D, 86E, 86f and 86h, if not satisfied with such action, order, decision or proceedings. Clarification: For the purpose of this Section “shareholders representative” means representative elected among the shareholders having minimum twenty five percent of prevailing share.
(2) No appeal will be entertained without having the representation of twenty five percent of prevailing shares within the time of Sub-section (1.)
(3) In case of the appeal under the provision of Sub-section (1), the committee has to approve, review or cancel the action, order, decision or proceedings done by the bank or the official appointed by the bank, within thirty days of receipt of such appeal by giving related proof, basis and reasons.
(4) Bank may provide information about the decision made under Sub-section (3) within fifteen days of such decision to the respective representative of the shareholders.
(5) The action, order, decision or Proceedings of the bank or the official appointed by the bank shall remain continue unless the committee under Sub-section (3) cancel it.
(6) The decision of the committee under Sub-section (3) on the appeal of the shareholders representative shall be final. 86J. Transfer of the Assets and Liabilities of the Problematic Commercial Bank or Financial Institution : (1) In case of the order issued by the bank for the transfer of assets and liabilities partially or fully
of the problematic commercial bank or financial institution under the provision of Clauses (b), (c) or (d) of Sub-section (3) of the Section 86F, notifying such order to public by publication, it can be transferred to any commercial bank or financial institution or any other body in the terms and basis which bank think proper.
(2) Bank may provide, real, detail and information on the serious matters about the belongings or description of assets and transaction of the problematic commercial bank or financial institution to the prospective commercial bank or financial institution or any body which is ready to receive the assets and liabilities of such commercial bank or financial institution by determining the terms of privacy.
(2) No appeal will be entertained without having the representation of twenty five percent of prevailing shares within the time of Sub-section (1.)
(3) In case of the appeal under the provision of Sub-section (1), the committee has to approve, review or cancel the action, order, decision or proceedings done by the bank or the official appointed by the bank, within thirty days of receipt of such appeal by giving related proof, basis and reasons.
(4) Bank may provide information about the decision made under Sub-section (3) within fifteen days of such decision to the respective representative of the shareholders.
(5) The action, order, decision or Proceedings of the bank or the official appointed by the bank shall remain continue unless the committee under Sub-section (3) cancel it.
(6) The decision of the committee under Sub-section (3) on the appeal of the shareholders representative shall be final. 86J. Transfer of the Assets and Liabilities of the Problematic Commercial Bank or Financial Institution : (1) In case of the order issued by the bank for the transfer of assets and liabilities partially or fully
of the problematic commercial bank or financial institution under the provision of Clauses (b), (c) or (d) of Sub-section (3) of the Section 86F, notifying such order to public by publication, it can be transferred to any commercial bank or financial institution or any other body in the terms and basis which bank think proper.
(2) Bank may provide, real, detail and information on the serious matters about the belongings or description of assets and transaction of the problematic commercial bank or financial institution to the prospective commercial bank or financial institution or any body which is ready to receive the assets and liabilities of such commercial bank or financial institution by determining the terms of privacy.