Foreign bank licensee

(1) In the case of a licensee that is a foreign bank, Parts X and XI of this Act shall be read– (a) as though references to the licensee were references to the business, operations and undertaking in Belize of the licensee that is a 165 (b) as though references to the assets of a licensee were references to the assets in Belize of the licensee that is a foreign bank, including without limitation, assigned capital and any other asset of the licensee in relation to its operations in Belize; (c) as though references to depositors, creditors or obligations of a licensee were references to the depositors, creditors or obligations of the branch or branches in Belize of the licensee that is a foreign bank; and (d) with such other similar changes as the Central Bank deems fit.