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  • HC-B.2 HC-B.2 Enforceability

    • HC-B.2.1

      The requirements of Chapter HC-1, Sections HC-1.1–HC-1.4 are binding requirements, which banks and their Boards should follow on an "apply or explain" basis. If a Board or a bank elects not to follow these requirements, they must explain why to the Agency and document the reasons for not applying the concerned requirements in the Minutes of the Board. The remaining chapters are binding requirements except where shown as guidance.

    • HC-B.2.2

      This Module and Chapter HC-1 in particular supplements various provisions relating to Corporate Governance contained in Legislative Decree No. 21 of 2001 with respect to promulgating the Commercial Companies Law. In any cases of potential conflict, the Commercial Companies Law shall prevail. Compliance with this Module does not guarantee compliance with the Commercial Companies Law.