Retained earnings, capital adequacy

(1) The Corporation shall set aside in each year, out of the net profits of the Corporation, a minimum of ten per centum of such profits towards a General Reserve Fund until the amount standing to the credit of such General Reserve Fund shall equal the paid up share capital of the Corporation. (2) The General Reserve Fund created under subsection (1) of this section may be used to meet contingencies and for such other purposes as the Corporation may think fit, but this fund shall not be used for distribution of profits to shareholders. (3) Notwithstanding subsections (1) and (2) of this section, the Corporation shall retain accumulated earnings and shall not distribute profits to shareholders until the aggregate value of retained earnings and capital have provided sufficient amounts to attain a prudential debt- to-equity ratio to ensure being able to meet commitments related to borrowing. (4) The Board shall ensure that the size of loans or investments in related groups or parties do not exceed a maximum of 20% of the capital of the Corporation.