Section 100, The Banking Act, 2019

(1) The procedure relating to the validity and priority ofclaims, liquidation of bank assets, return of bank customer's property and sale of bank assets shall be in such transparent and commercially reasonable manner as shall be prescribed by the Central Bank. (2) Subject to subsection (3) no set-off shall be allowed with respect to claims acquired towards the bank in receivership after the appointment of a receiver takes effect or within 3 months before such decision. (3) Claims against a bank in receivership arising from deposits shall be set-off against any sum due from a depositor to the bank or financial holding company as of the date on which the licence is revoked and the receiver is appointed - (a) automatically, if such sum is matured or past due; or (b) at the option of the depositor, if the sum is not matured or past due.