The CBB reserves the right to require locally-incorporated banks to dispose of any qualifying holdings acquired without its prior approval. Where a "qualifying holding" is acquired without approval of the CBB, then the entire value of the holding must be deducted from the solo capital and from the consolidated capital of the concerned bank. Approval will not be given for "qualifying holdings" in entities incorporated in jurisdictions where secrecy constraints exist or there are restrictions on the passage of information to the bank (other than customer confidentiality requirements imposed by financial regulators).