No.l2 BANKING AMENDM&'IT (a) it can no longer maintain the prescribed minimum amounts of capital and reserves, or is otherwise in an unsound financial condition; or (b) it can no longer maintain net assets which, together with other financial resources available to it, are of an amount and nature sufficient to safeguard its creditors; or it can no longer provide adequate security for the assets entrusted to it; or it is facing liquidity problems, or its prudential liquidity ratios are below the prescribed regulatory minimum; or it has failed to put in place and implement a sound corporate governance framework and risk management framework, or it is in breach of good corporate governance requirements or its operations exhibit poor 1isk management; or it is carrying out non-permissible activities or employing undesirable methods in carrying on its business; or it has not complied with any instruction, requirement or condition imposed by the Registrar in terms of this Act; or it is not being operated or is not conducting its activities in the best interests of its depositors; (c) (d) (e) (f) (g) (h) the Reserve Bank may, subject to this section, formulate and implement a plan of resolution in relation to the banking institution (hereinafter called a "bank resolution plan") involving any of the following measures(i) the merging ofthe problem banking institution with another banking institution; (j) the acquisition of the problem banking institution by another banking institution; the acquisition by or transfer to a third party of any asset or liability of the problem banking institution, including any asset held in trust; the establishment of a bridging banking institution to acquire pmt or all of the assets and liabilities of the problem banking institution; (k) (l) (m) the taking of control of the problem banking institution by a curator with powers to establish and institute a timely plan of resolution; (n) the winding up of the problem banking institution; (o) the taking of any action necessary to give effect to the plan of resolution, including the sale or closure of any branch, agency or other office of the problem banking institution and, subject to any other law, the dismissal of any of its officers or employees. (3) If the Reserve Bank makes a determination in terms of subsection (1) in relation to a banking institution it has identified as a problem banking institution under subsection (2), it shall, after affording the banking institution an adequate opportunity to make representations in the matter(a) serve on a principal officer of such banking institution at its registered office(i) a notice (hereinafter called a "problem bank notice") 242 2015