Regulations Governing Issuance of Bank Debentures by Banks Article 5

The competent authority may reject a bank's application to issue Bank Debentures if any of the following circumstances exist:1. The bank's application to issue Bank Debentures is incomplete or otherwise does not include all of the required information and the bank fails to remedy such deficiencies within the time period specified by the competent authority;2. Any of the situations described in the first paragraph of Article 4, above, exist; or3. The bank has failed to fully implement a previous issuance plan with no reasonable explanation having been provided for such failure.