1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 43 (Transfers, etc. to a Company of Another Industry)

In those situations where a bank fell under the provisions of Article 41, Item 1 and the license of the Minister of Finance of Article 4, Paragraph 1 has lost its validity, when the obligations of deposits or time deposits, which hitherto had been kept at the said company which had been a bank, still remain, excluding those situations as provided for by Cabiner Order, until the earlier of the date of payment in full (maturity) of the said deposit obligations or the passage of ten years from the date that the said license lost its validity, the Minister of Finance can order the said company to entrust assets, limited up to the total amount of the said obligations and can make orders in relation to the control or management of assets or the disposition of the said obligations in order to devise the protection of depositors, etc..

2. The provisions of the previous Paragraph shall apply mutatis mutandis concerning those situations where a company other than a bank, etc. has succeeded based on a merger to the claimable obligations of deposits or time deposits of a bank.

3. The provisions of Article 24, Paragraph 1, Article 25, Paragraph 1, Paragraph 4 shall apply mutatis mutandis concerning companies which receive the application of the provisions of the previous two Paragraphs.