Relationship with the Central Bank and Government

(1) In the performance of its functions and exercise of authority under this Act, the Corporation shall be financially and operationally independent of the Government, the Central Bank and any other entity. (2) The Government, the Central Bank or any other entity shall not unduly interfere with the Corporation in the exercise of its functions, operations and authority under this Act. (3) At the request of the Corporation or in accordance with an arrangement between the Corporation and the Central Bank, the Central Bank and the Corporation shall provide information to each other that concerns the performance of a function under this Act, including information relating to– (a) the assets, financial statements and other records of a Fund member; 13 (b) the issue of a license to a domestic bank or registration of a credit union after the commencement of this Act; (c) the financial condition of a Fund member; (d) the occurrence or likelihood of the occurrence of a covered event under section 25; and (e) the report and findings of an examination, special examination, inquiry or investigation ofCAP. 263. (i) a domestic bank under section 80 or 82 of the Domestic Banks and Financial Institutions Act; or (ii) a credit union under section 60 of the Credit Unions Act. CAP. 314. (4) The Corporation may enter into arrangements, on terms and conditions which do not undermine the independence of the Corporation, with– (a) the Central Bank, for the provision of technical, human resource and information technology support and facilities by the Central Bank to the Corporation; (b) the Central Bank or the Government, for loans or guarantees to the Corporation or the issue of bonds or securities by the Corporation. (5) The provision of information by the Central Bank under sub-section (3) and the carrying out of an arrangement under sub-section (4) with the Central Bank or Government does not, on its own, constitute undue interference of the Corporation. 14