Section 39, The Banking Act, 2019

(1) A bank or financial holding company shall not grantor permit to be outstanding a credit exposure in respect of an affiliate of that bank or financial holding company except on terms which are non-preferential in all respect including credit worthiness, term, interest rate and the value of the collateral. (2) A bank or financial holding company shall not take a credit exposure in respect of an affiliate if the aggregate of the credit exposures to the affiliates of the bank or financial holding company exceeds 25% of the net own funds. (3) Without prejudice to subsections (1) and (2), the Central Bank may by order set a specific limit on credit exposure to an affiliate on an individual basis having regard to the circumstances of the bank or financial holding company. (4) A bank or financial holding company which contravenes this section is liable to an administrative penalty. (5) A director or key management personnel of the bank or financial holding company who contravenes this section is personally liable to an administrative penalty.