Section 125, The Banking Act, 2019

(1) The Banking Act, 2011 is hereby repealed. (2) Notwithstanding subsection (1)- (a) a licence granted under the repealed Act, which is in force at the coming into operation of this Act shall continue in force as if granted under this Act; (b) all regulations, rules, guidelines, orders, notices, directives and instruments prescribed or issued under the repealed Act and in force at the coming into operation of this Act shall, unless they are inconsistent with any provision of this Act or until they are expressly revoked, remain in force; (c) a bank in existence before or at the commencement of this Act carrying on banking business that is incompatible with this Act shall within a period of 90 days after the coming into operation of this Act regularise its activity to the satisfaction of the Central Bank to bring it in conformity with this Act. Minimum uniform business hours and bank holiday. Civil proceedings. Schedule of penalties. Repeal and savings.