Clause 28

by inserting, immediately after the word “hold” in subsections (1) and (3), the words “, directly or indirectly,”;

by deleting the words “, subject to such conditions as it may impose” in subsection (3);

by inserting, immediately after subsection (3), the following subsections:“(3A) Any approval granted by the Authority under this section to a bank to acquire or hold, directly or indirectly, a major stake in a company may be subject to such conditions as the Authority may determine, including any condition relating to the operations or activities of the company.(3B) The Authority may at any time add to, vary or revoke any condition imposed under subsection (3A).”;

by deleting the word “and” at the end of subsection (4)(a);

by deleting the full-stop at the end of paragraph (b) of subsection (4) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(c)such other interest as may be prescribed.”;

by deleting the word “and” at the end of subsection (5)(a);

by deleting the full-stop at the end of paragraph (b) of subsection (5) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(c)provide that any interest or control referred to in the definition of “major stake” in subsection (7), that is acquired or held, directly or indirectly, by a company in which a bank has, directly or indirectly, a major stake shall be deemed to be acquired or held by the bank.”; and

by deleting the words “in the share capital of a company” in paragraph (a) of the definition of “major stake” in subsection (7) and substituting the words “of the total number of issued shares in a company”.