34. Consequences of reserve deficiencies

Where a licensed commercial bank or a relevant financial institution regularly fails to maintain the reserves required to be maintained by such licensed commercial bank or relevant financial institution under subsection (1) of section 32, the Monetary Policy Board may, in the interest of the national economy, make order –

prohibiting or restricting the making of loans or investments by such licensed commercial bank or relevant financial institution;

prohibiting the application of the whole or any specified part of the net profits of such licensed commercial bank or relevant financial institution for the purpose of payment of a dividend to its shareholders.