Section 60: Supervisory Power of the Bank over Other Financial Institutions and Specialised Banks.

(1) Without prejudice to the provisions of sections 31 and 32 of this Act the Bank shall-
(a) supervise and regulate the activities of other financial institutions and specialised banks;
(b) prescribe the minimum paid-up share capital requirement of other financial institutions and specialised banks; and
(c) appoint examiners or any other person to carry out regular or routine examination of the books and affairs of specialized banks and other financial institutions.
(2) The Bank may appoint examiners and other person to carry out regular or routine examination of the books and affairs of other financial institutions and specialised banks.
(3) Where the Governor is satisfied that it is in the public interest to do so, such person may, in addition to the routine or regular examination, order a special examination or investigation of the books and affairs of any other financial institution or specialised bank and, for that purpose, the Governor shall appoint one or more qualified persons other than the officers of the Bank to conduct special examination or investigation under conditions of confidentiality of the books and affairs of such other financial institution or specialised bank.
(4) The cost and expenses of the Bank or remuneration of the person so appointed, as the case may be, shall be payable from the fund and property of the other financial institution or specialised bank.
(5) For the purpose of implementation of this section, other financial institutions and specialised banks shall be treated in the same manner as banks with respect to the requirements of section 23 of this Act.