BC-5.1.5

Past version: Effective from 01 Oct 2007 to 31 Dec 2010
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On the second working day of each calendar month, the Central Bank will circulate a draft copy of the Control List to all retail bank licensees. Banks will be requested to check the accuracy of the Control List by reference to the information they have sent to the Central Bank in accordance with Paragraph BC-5.1.3 above, and to notify the Central Bank within a maximum period of one week of receiving the list of any inaccuracies on the Control List. The Control List, as amended if appropriate, will be circulated to retail bank licensees by the Central Bank on the second working day after it receives all responses from concerned banks. Retail bank licensees will be required to monitor the customers on this Control List to establish whether any one or more of them issued another dishonoured cheque in the instant calendar month. Any bank becoming aware of a dishonoured cheque of one or more of its customers on the Control List during this month should notify the Central Bank of this fact, using the relevant section in Appendix BC-1, on the first working day of each calendar month.

October 07