Additional capital requirements

(1) The Central Bank may, after consultation with the Minister, in relation to a licensee or class of licensees, require such greater amounts of capital than those amounts specified in section 36 which, in its opinion, are deemed necessary and prudent, taking into account the nature of the banking business or financial business which the licensee or class of licensees conducts, or proposes to conduct, the character and condition of the existing or prospective assets of the bank or financial institution, and the existing or prospective deposits or other liabilities of the bank or financial institution. (2) Any licensee which fails to comply with any of the provisions of this section shall, on being called upon in writing by the Central Bank, pay a fine not exceeding one hundred thousand dollars and ten thousand dollars for each day of such failure to comply.