Section 80, The Banking Act, 2019

(1) On the basis of the report under subsection (3) ofsection 79 the official administrator may - (a) with the approval of the Central Bank, increase the capital of a bank in official administration, through the issuance of new shares; (b) determine the extent of losses of a bank in official administration and prepare the financial statements covering the amount of such losses through the bank's profits, reserves and, if necessary, capital; and (c) notify existing shareholders of the amount of additional capital needed to bring the bank's capital into compliance with all capital requirements and allow such shareholders to subscribe and purchase additional shares by submitting bindingcommitments equal to the full amount of additional capital needed within 5 working days of such notification. (2) Existing shareholders of a bank in official administration shall have no pre-emptive or other rights to purchase additional shares issued except as provided under paragraph (c) of subsection (1).