Section 48Section 48

s. 48

48 (1) If any banking company- (a) fails to submit any statement required under Article 44 or submits under the Article a statement which is false in any material particular; or (b) fails to comply with any condition imposed under this Chapter, every director or other officer of the company and every other person who is knowingly a party to the breach shall be punishable with fine which may extend to [Taka five lakh]. (2) If any person discloses any credit information, the disclosure of which is prohibited under Article 46, he shall be punishable with imprisonment which may extend to six months or with fine which may extend to [Taka one lakh] or with both.

1. 86. The words “Taka five lakh” were substituted for the words “Taka two thousand” by section 19 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)
2. 87. The words “Taka one lakh” were substituted for the words “Taka one thousand” by section 18 of the Bangladesh Bank (Amendment) Act, 2003 (Act No. IX of 2003)