English to be the authentic text

(1) Every document filed with the Registrar of Companies or with the Central Bank, and all records and accounts required to be kept under this Act shall be in the English language. (2) Where a document is not in the English language it shall be accompanied by an authentic English translation and in the event of any conflict in meaning between the foreign language and the English version, the English version shall prevail. 205 SCHEDULE I (Section 2) Financial Business CLASS ACTIVITIES 1. Finance House or Financing of Hire Purchase and Finance Company Instalment Credit, Financing Accounts Receivables, Trade and Inventory Financing, Factoring, Block Discounting and Lease Financing 2. Leasing Corporation Leasing Corporation 3. Merchant Bank or Investment Bank Trading, floating and underwriting stocks, shares, bonds and all other types of securities Loan syndication Providing consultancy and investment management services and corporate advisory services Acceptance credit Project financing Lease financing Domestic Banks and Financial 206 Institutions Foreign exchange dealing Inter-Bank financing 4. Mortgage Institutions Mortgage lending 5. Unit Trust Providing facilities for the participation by persons as beneficiaries under a trust or other scheme, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property whatever. 6. Debit or Credit Card Business Issuing payment, credit or debit card and, in cooperation with such others including other financial institutions, operating a payment, credit or charge card plan. 7. Trust Company Managing trust funds Performing duties of trustees, executor or administrator and attorney Administration of Pension Fund Domestic Banks and Financial Institutions 207 SCHEDULE II [Section 84(5)] International Standards for the supervision of foreign banking groups and their cross-border establishments. 1. All foreign banks must be supervised by a home country authority that capably performs consolidated supervision. 2. Creation of a cross-border banking establishment should receive the prior consent of both the host country and the home country authority. 3. Home country authorities should possess the right to gather information from their cross-border banking establishment. 4. If the host country supervisory authority considers that any of those three standards is not being met, it could impose restrictive measures or prohibit the establishment of banking offices.