No.l2 2015 (a) preserve the capital, assets and liquidity of the banking institution concerned; and (b) protect the interests of depositors and other creditors of the banking institution concerned. (7) Measures refened to in subsection (6) may include- (a) restricting the activities of the banking institution concerned; and (b) removing or replacing all or any of the directors of the banking institution concerned; and (c) prohibiting or restricting the disposal of any assets of the banking institution concemed; and (d) any action refened to in section 48(3). 528 Confirmation of problem bank notice (1) At any time before a bank resolution plan is implemented, the problem bank notice shall be confirmed by application made by or on behalf of the Reserve Bank to a judge of the High Court in chambers on not less than fourteen days' written notice (accompanied by the documentation in support of the application referred to in paragraphs (a) and (b) of subsection (2)) to the directors, shareholders, principal officers and creditors of the problem banking institution: Provided that the publication by or on behalf of the Reserve Bank of a notice in the Gazette addressed to the directors, shareholders, principal officers and creditors of the problem banking institution (whether named individually or by class)(i) notifying them of the intention of the Reserve Bank to make such an application not earlier than fourteen days from the date of publication of the notice in the Gazette; and (ii) infolTlling them of their 1ight to oppose the application; and (iii) containing particulars of where the documentation in support of the application referred to in paragraphs (a) and (b) of subsection (2) may be collected by any party interested in the application; shall be deemed to constitute sufficient service of the notice of the application upon any such party. (2) There shall be submitted together with the application refened to in subsection (1)(a) (b) (c) (d) a copy of the problem bank notice relating to the banking institution which is the subject of the application; and a statement of the reasons why it appeared to the Reserve Bank that any one or more of the circumstances refened to paragraph (a) to (h) of section 52A(2) were present in relation to the banking institution; and a statement of the affairs of the banking institution indicating the extent of its assets and liabilities; and proof that a principal officer of the banking institution had been served with the problem bank notice under section 52A(2)(p). 244

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